Interest rates were predicted to go down. And they did for a brief period. But they are back up yet demand for housing is hotter than ever.
The reason: basic economics of supply and demand.
What this means if you’re a home seller in King County, WA:
Sellers are back in the drivers seat but strategic pricing, presentation and marketing are the difference between a good offer and a great offer.
It’s extremely important to note that a lack of supply does not override proper pricing and presentation. There ARE still homes that are NOT selling.
What this means if you’re a home buyer in King County:
Get yourself a REALTOR that has a history of results and has a strategy for writing winning offers. Your agent should do a proper buyers consultation to educate you on market conditions and mentally prepare you for a fast paced ever changing journey.
And the market is always evolving, rates are predicted to drop again in the future, and if we do get back to rates in the 5%’s, buckle up…it’s gonna get wild!
