September Updates: Sell immediately or Buy NOW!

by Lina Yang

September 2022 Market Reports

Disclaimer: The information provided below was generated from MLS Stats and Market Reports. The included data were from sold properties dated Sept 1, 2022 to Sept 30, 2022.

Real estate was still slow in September 2022. The low supply of homes and high mortgage rates may still pose a significant challenge for prospective buyers and sellers. Current trends reflect a persistent fall in housing sales and prices, which will further decline in the next months."

Based on the current real estate market, we recommend for sellers who are thinking of selling within the next 2-3 years, sell immediately! Currently, the market has been on a constant downhill as the Feds are fighting against inflation.

For buyers, it is still a good time to buy before interest rates go up again in Nov and Dec. Currently 30 year fixed rate is around 6-6.5%, and rumor is around that it may go up to 8% by the end of this year and it will probably not going to come down to 6% in a while. We always recommend: "Marry the house, date the rates". As a buyer, if you see a home you really like, try to make an offer! There is no harm in that, put a lower offer and see what happens. If you want to know more about the current real estate market, call me anytime!