Nobody is talking about it yet but interest rates are ticking up before our very noses. The perfect storm for buying a home may well have passed us by. Don’t get me wrong, the time is still amazing. Prices are moving up as well but where will they go? Will interest rates curtail the increases we are seeing so far this year?
I doubt it. There are still buyers who have not been able to get the home they want. There are still multiple offers. There are still cash buyers, high down buyers and buyers willing to waive appraisals. That sounds to me like we aren’t finished yet. In fact, let’s just see what happens when sellers decide to sell and there are actually options for buyers. I predict prices will rise even faster than they are now. So far, lack of inventory has been the only thing holding the market back. Even appraisal issues aren’t stopping many buyers. Interesting times ahead!