Your home is your oasis! There’s nothing like coming home after a long day and being in the comfort of your own place and relaxing. But maybe you’ve outgrown your space and want something a little bigger, or in some cases, you’re downsizing. The news isn’t looking good for people trying to sell a home.
The past couple of years, selling a home has been easy and profitable. But the demand for housing is declining as prices and interest rates start to worry buyers. Newsweek recently reported:
Adam Benjamin Shaw, deputy director of the International Economic Governance Commission of London Economics, said: “House sales numbers have fallen significantly as monetary tightening and inflation eroded homebuyer confidence and purchasing power.
The amount of mortgage applications is also decreasing.
But some in the real estate industry say there is some good news for those looking to buy. If you’ve been turned down by an offer in the past, you may want to look back and see if the asking price has dropped. If you have good cash on hand for a down payment and are patient, things may improve for you as we approach 2023.
Both selling and buying are frustrating at times. But after the deal closes and the keys are exchanged, there’s no sense of making the house your home and pulling into the driveway for the first time. If you find the right home, that feeling will happen every day when you come home.
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