For Better Rates, ARMs May Be the Right Choice NowMay 18, 2022
Inventory is increasing and competition is decreasing.
Waiting to buy your next home could result in your paying higher rates and higher prices.
After a very long running sellers’ market, the tide has finally turned.
While rates have increased of late, they are still within the range of historic lows, and are unlikely to greatly pull back anytime soon.
This has helped depress the sellers’ markets and strengthen the buyers’ markets, because many buyers now have been put off by two things:
- increased rates (which are still very low)
- the unpleasant experience of having been flailing in a sellers’ market for a long time with nothing to show for it
Simultaneously inventory has been increasing and certain prices have been decreasing, offering a unique opportunity for potential buyers who want to put this to their advantage:
- inventory is increasing
- competition is decreasing
We have seen movement in the markets like this before, and it is not necessarily indicative of a long term trend, and could even portend a short term blip.
Contact me for information on how you can take advantage of what’s going on in the market now.