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| 06/30/2022 |
“What’s going on with interest rates?” I receive this question almost every day. In case you haven’t been paying attention, the Federal Reserve has been raising rates to combat inflation. What impact will this have on our housing market?
As mortgage interest rates rise, buyers’ purchasing power is negatively impacted. As a result, inventory is increasing, and our market has slowed down, which was exactly the Fed’s intention. What does this mean for buyers and sellers?
Sellers shouldn’t panic just yet. You may have to put more effort into your marketing and preparation before listing your home, but you can still secure a great deal. Meanwhile, more inventory is great news for buyers. You’ll have less competition for great homes moving forward.
One thing to keep in mind is that inventory is still incredibly low around Atlanta. Our area only has a 1.1-month supply of inventory right now. Supply is rising, but it won’t be enough to tank prices or cause a crash.
If you have questions about today’s topic or anything else, please call or email me. I am always willing to help!
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©2022 Georgia Multiple Listing Service All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than CENTURY 21 Results may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2022 All rights reserved.
Northeast Georgia Board of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than CENTURY 21 Results may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2022 All rights reserved.