Don’t let the news about the market slowing down confuse you – this is likely only a temporary consumer reaction to the large collection of other bad news that we’ve experienced lately. Sadly, it is creating hesitation and confusion in the minds of consumers and, as the saying goes “a confuse mind will do nothing!”.
In the end, what really governs the real estate market are only two forces – supply and demand. And since we still have way more buyers than sellers, don’t expect to see fundamental shifts in the market anytime soon. Moreover, popular areas are affected even less by these temporary hiccups.
Case in point – our highly sought-after neighborhood of PhinneWood! With superior amenities, such as schools, parks, community, access, etc., demand for homes in our neighborhood has not changed much. While some areas have experienced noticeable price drops and lagging demand, if you look at our numbers, we really haven’t seen too much of either.
Will projected interest rate hikes affect our area? Perhaps. But remember that people (mostly families) are still looking for good homes, and with rising rents, buying a home becomes the smarter long-term move.
To see the full report, visit PhinneyWoodHomes.com
Considering selling your PhinneyWood home, or buying one in our neighborhood? Find out what insider tricks and strategies will help you maximize your results. For a no-obligation consultation, call Doron at 206-779-9808.
