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  • Writer's pictureCarmen Fontecilla

Existing Home Sales: A Positive Outlook for Buyers and Sellers

Despite the recent decline in existing home sales, there are still reasons for both buyers and sellers to be optimistic about the real estate market. As a senior real estate agent, I'd like to share some encouraging insights on the current market situation, interest rates, and availability of homes.

Positive Real Estate Market Outlook

Although existing home sales have dropped by more than 15% over the past year, the housing market is expected to remain strong, with opportunities for buyers and sellers. Home values are projected to increase by 5.5% over the next year, slower than the 16.9% increase in 2021.

This slowdown in price growth could make homes more affordable for potential buyers. Moreover, most experts do not expect a housing market crash soon, as many homeowners have built significant home equity.

The issue is primarily an affordability crisis, but with high-interest rates and inflated home values, purchasing a home could become more accessible in the coming months.

Current Interest Rates

Interest rates have fluctuated but remain relatively low compared to historical levels. This can be advantageous for buyers and sellers, as lower interest rates can make it easier for buyers to secure financing and afford monthly mortgage payments. For sellers, low-interest rates can attract more potential buyers, increasing the chances of a successful sale.

Availability of Homes for Buyers and Sellers

Although inventory levels have been tight, homes are still available for buyers and sellers. With a 3.3-month supply of existing homes on the market, buyers have options to choose from, and sellers can benefit from the current demand for housing.

In conclusion, despite the recent decline in existing home sales, there are still positive aspects of the real estate market for both buyers and sellers. By staying informed about market trends and taking advantage of favorable interest rates, both parties can navigate the current market conditions and achieve their real estate goals.

My team specializes in guiding clients through changing markets. We provide up-to-date information and advice tailored to your unique needs and situation. Whether you're looking to buy or sell, we're here to help you make intelligent, informed decisions.

The forecast may look cloudy, but the outlook for real estate remains positive. Don't hesitate to reach out to us anytime. We're always happy to answer questions and help you navigate the current market successfully.


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