Well from all indications, it doesn’t look like there will be much change soon other than perhaps properties staying on the market longer. We have seen a slight decrease in listing price and selling price, but not a drastic change. Even with rising interest rates, people still need housing so many are opting to go ahead and buy, then refinance in a few years when interest come back down. They would rather buy now before rates go higher.
People buy and sell properties during all types of market conditions. The big thing to be aware of with changing market conditions is how to know what is best for your situation. Talking with professionals in the industry can really help you make those decisions. Aside from a good Realtor, you can also talk to lenders, appraisers, and others that are integrated into the industry. All of these people can help give you relevant information to consider as you decide what is best for you.
If you would like to visit about your situation, please reach out to me. I can provide you current data, brainstorm ideas for your situation, or just visit about what the market trends seem to look like. Send me your email, and I will be happy to reach out and set up a time we can talk.