Market trends move very fast! Did you know buyers are in action and ready to buy?
We’re seeing multiple offers right now and in some cases, bidding wars. Home prices both nationally and right here locally in Orion, Oxford, Clarkston, Rochester Hills and surrounding areas are going up due to the high demand. Sales are up nationally by 10.8%.
The February Jobs report just came out and said the United States added a whopping 273K jobs, and unemployment is expected to fall below 3.5%. And how about those interest rates?
According to Realtor.com, “The market is struggling with a large housing UNDERsupply……the number of homes for sale are poised to reach historically low levels.” Inventory hasn’t been this low since 1993.
Barry Habib who has won the most accurate real estate forecast feels that rates will to continue to go down, possibly even into the 2’s.
What does this mean and how does it affect the market both nationally and here in the Orion, Oxford, Clarkston, Rochester Hills and surrounding areas? It means the real estate market will stay strong for buyers and sellers. If you were sitting on the fence to buy, take advantage of these historically low rates. And if you’re thinking about selling, now’s the perfect time to sell your home quickly and for more money.
If you have any questions about our community or real estate, I’m here to help. This is Michele Shinedling from Heritage Real Estate. Reach out to me and remember, when you do what you love, people love what you do!