There really is only one reason to buy or sell a home right now. That has to do with supply and demand. We have an extremely low supply of homes and a major demand for them.
We only have about a 40-day supply of homes here in Sacramento, which is uncharacteristically low. A healthy market would have 4 months of supply, so we need homes on the market! Homes are selling within 25 days and if your home is priced well and in good condition, it could sell even faster.
So, what’s driving all the demand? Rising interest rates are to blame. People are buying homes now because they know that interest rates will only climb higher. By purchasing a home now, you can save thousands of dollars in interest over the lifetime of your loan.
If you’re interested in buying a home, I suggest that you do so now. The same goes for home sellers. It’s just a great time to be in the real estate market right now.
I look forward to hearing from you!