Fall 2021: A buyers market?
Its been a rough year for buyers, with most putting in multiple above-asking offers on several properties before snagging one.
However, the tides are turning in your favor! In April of this year 74.3% of offers were immediately engulfed in a bidding war. Last month that number was reduced to 62.1%, according to South Florida’s ‘The Real Deal’.
Despite the persistent gap between supply and demand, prices are also showing signs of stabilization, with interest rates at a historical low!
Although this is great news for the fatigued buyer, experts predict that it won’t stay that way for long. Its forecasted that interest rates will increase by 0.5% in 2022. This increases the median price of a home by approximately $10,000!
So why wait? Lets discuss your plan for buying your dream property. Book your complimentary buyer consultation today! Link in Bio.By Clara PalaciosSales Associate | Realtor®