@natale_realtors What if Interest Rates Stay High? Transaction count will continue to go down. Less people will be motivated to move and trade their current interest rate, most likely below 3.5%, to a newer interest rate that could be in the 6-7% range. People will always have to move, however less will choose to do so. They’ll stay put, renovate if needed, and stick with what they know in their current home. Moving can be messy and if people have a low mortgage payment due to low interest rates from last year, they won’t be motivated to move all too much. If there’s a bunch of construction going on around your area, prices will certainly correct even further. If there’s limited construction, like our area here at the Jersey Shore, there won’t be much of a correction, mostly due to the limited inventory will protect the prices. Some price ranges will be affected more than others. If you need to stay up to date with what’s happening in the real estate industry, especially here at the Jersey Shore, don’t hesitate to contact a Realtor at Natale today. ————- #natalerealtors #interestrates #housingmarket #mortgageindustry ♬ original sound – Natale Realtors
What if Interest Rates Stay High?
Transaction count will continue to go down. Less people will be motivated to move and trade their current interest rate, most likely below 3.5%, to a newer interest rate that could be in the 6-7% range. People will always have to move, however less will choose to do so. They’ll stay put, renovate if needed, and stick with what they know in their current home. Moving can be messy and if people have a low mortgage payment due to low interest rates from last year, they won’t be motivated to move all too much.
If there’s a bunch of construction going on around your area, prices will certainly correct even further. If there’s limited construction, like our area here at the Jersey Shore, there won’t be much of a correction, mostly due to the limited inventory will protect the prices. Some price ranges will be affected more than others.
If you need to stay up to date with what’s happening in the real estate industry, especially here at the Jersey Shore, don’t hesitate to contact a Realtor at Natale today.