September 2023 Real Estate Market Update:
I bet you’ve been hearing mixed things about real estate these days. I’m here to help clarify what’s happening!
According to Freddie Mac, the national average 30-year fixed mortgage rate hit a 2023 high in August at 7.23%. As of September 14th, the average stands at 7.18%.
Although rates are high and home prices are as high as ever, the market remains extremely competitive. Inventory continues to be low, with demand outpacing inventory in most markets.
As always, I recommend that both buyers and sellers do not try to time the market. If the past few years have taught us anything, it’s that we rarely can predict what’s going to happen to next.
Please feel free to reach out at any time if you have questions about the current state of the market or the buying or selling process. It is always a pleasure to help you or connect you with someone great who can!
