Market Update September 1, 2022

Q1 2022 Real Estate Market Update

Sometimes it snows in April…
But then it melts quickly and we can look forward to GREEN days ahead!

Greetings! Just a quick note as we have wrapped up the first quarter of 2022. Similar to last year, the number of buyers far outweighs the number of sellers meaning we are still seeing most homes sell quickly and in multiple offers. A new twist is interest rates rising a bit. While still (in the grand scheme of things) quite low (today’s conventional 30-year rate is 4.875%), it means buyers who are financing a purchase can afford a little bit less than they could last year – and the prices for homes are a little
higher. This results in some buyers backing out of the market. We are also seeing more sellers “test” the market with higher prices – and not selling. It’s definitely an interesting time in real estate, so keep an eye out for future recaps to keep a finger on the pulse!

Spring Homeowner Tip! Check your gutters and downspouts – make sure they are clear and
attached to direct any rain or melting snow away from the foundation of your home. When the soil
is still somewhat frozen, it can’t hold much excess water – spring is the most common time to see
wet basements!

Wishing you a warm start to Spring and a prosperous second quarter. If you are considering selling
your home, I’d love to interview for the job!