Good News on the Home Front
The Federal Reserve raised the federal funds rate seven times in 2022 in an effort to slow down inflation. This drastically cooled the national housing market and certainly our local Idaho housing market. However, this change was much needed to bring our overheated housing market back into a more healthy market.
Many people wondered if we were headed for another housing crash and decided to put their real estate goals on hold.
In September of last year, we wrote an article stating that we did not think the housing market would crash… but rather it would be cooling off and shifting back into a more balanced market which is what we have seen it do in the last few weeks.
As we are already halfway through January of the new year, we are seeing a tremendous uptick in homebuyers who have been taking advantage of the lower mortgage rates, which have continued to drop, and the lower home prices. Today homebuyers have more options and negotiation power, and it's still an outstanding market for sellers to get a strong value on their homes. It appears a turning point for housing lies ahead this year.
If you have been considering moving, this window of opportunity might be exactly what you have been waiting for. Let's discuss your goals and see if now is the right time for you.
Call us at (208) 501-8200 or schedule an appointment online to discuss your goals by clicking HERE.
Wishing you the very best this New Year!
At your service,