Is This the Time to Buy a Home?
Rates are falling. Prices aren't. Here's what that means.
The housing market has been frozen for three years. Rates are finally falling, inventory is rising, and there are more sellers than buyers. Yet demand has barely budged. Here’s what the data is really telling us.
11 Offers in 5 Days
A few weeks ago, we put an offer in on a cottage. It seemed like a reasonable bet in a market that has been cooling for years. We came in $40,000 over the asking price. We weren't even close.
The property received 11 offers in under 5 days. It ultimately sold for $75,000 over asking. All cash, no contingencies, with the appraisal and inspection conditions waived entirely.
That’s not a buyer’s market. Or is it? The data tells a more complicated story and understanding the contradiction is exactly what may help you make a smarter decision right now.