Will Would Be Home Buyers Have More Competition Two Months From Now Than They Have Today?


Will Would Be Home Buyers Have More Competition Two Months From Now Than They Have Today?
By Scott Rogers • January 19, 2024
It seems likely that would-be home buyers will have more competition from other buyers two months from now compared to today. Here's why... [1] Mortgage interest rates have been trending steadily downward since late October. They seem likely to continue to trend downward over the next two months, even if not quite as quickly as they had been dropping. [2] Many more buyers seem to be looking buy homes in the spring than in the winter. [3] Many leases end in spring/summer - so any would-be buyers who are currently renting will be more seriously considering a purchase two months from now more so than they are today. [4] We will likely start to see more listings coming on the market in March and April, which seems to draw even more buyers out into the market. All that is to say that if you are thinking about buying a home sometime in the next six months -- you should carefully evaluate all current listings to see if there is a good fit that might be on the market right now for you to buy. Two months from now you will likely have more competition from other buyers. As an added bonus -- current home sellers who have had their home on the market for more than a few weeks may be more motivated to strike a deal with you than they (or other sellers) will be two months from now. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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