The Market May Seem Scary Right, But is it Really Scary?

Tuesday, July 26, 2022   /   by Trish Wheeler

The Market May Seem Scary Right, But is it Really Scary?

Mortgage rates have risen, but also have been stabelizing as of late.  Mortgage rates are actually considered good on average over the course of the last decade.  We enjoyed low interest rates for a few years, but that was not the norm. As the shock of the rate hikes get overwith, homebuyers will come back around.  First time homebuyes will now have more options for sure.

The media is feeding all of us bs as to a housing bubble and its heading for a crash.  This is not like 2007-2008.  We are still low on inventory.  Inventory is coming up slowly.  It will take some time to get to a comfortable level.  We are seeing prices slowly coming down as well, but I don't think we will see a major reduction.

Most existing homeowners are sitting pretty. They were able to cash in on the low rates and high home values to give them equity for high repair items.   As inventory increases, we will see more homebuyers get back into the market once the sticker shock of prices has come to a head.  
The Wheeler Sauls Group
Taylor Sauls | 850-630-8377
Trish Wheeler | 850-527-2275
7923 Panama City Beach Pkwy
Panama City Beach, FL 32407

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The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Properties listed by Brokers other than this Broker are marked with either the listing Broker's logo or name or the MLS name or a logo provided by the MLS. Detailed information about such properties includes the name of the listing Brokers. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. The Florida Association of REALTORS® and its cooperating MLSs do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Data last updated September 25, 2022
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