I knew things were changing; however, it wasn't until recently, when I wrote a contract for a buyer I have been dealing with for a several months and saw that their interest rate was a good bit lower than before.
Yes, interest rates are slowly rolling downward. But even a small drop in rates can make a significant difference in your payment, depending on the loan amount and down payment.
Traditionally, mid-February is when buyers start getting out and testing the waters to see what houses are available. And sellers begin dreaming about moving into their dream, or just something else. So, realtors always see an uptick in activity.
However, the quarantine and lower interest rates made the last 2 years an anomaly. We never slowed down during the winter months like we usually do. We stayed busy throughout, especially in our market rurally.
So now, because we have had some mild weather in North Texas, people are getting out and not only starting to look at homes, but actually making offers.
Prices on properties for sale have started to fall and interest rates are dropping so now we may see a bit of a surge in buyers.
But the interest rate drops are slow, so don't get too excited. It is expected to level off soon so we may have time to get you into your dream home before any more drastic changes take place.
For sellers, this is good news because now the homes on the market may start moving after a very slow winter.
Whether you are wanting to buy or sell, now is a great time to jump into the water. As we saw the last few years, we never know what is going to happen, so don't wait too long.
Just give me a call and I can connect you with your next Real Estate Dream.