October continued with raising interest rates. The feds have announced that it is possible for it to go up another 1.25% by year end. Homes are slowing quickly coming onto the market. Homes currently on the market are taking 2x as long to sell compared to just months ago.
Any good news in all this? Buyers do not have the fierce overbidding competition. The overbidding wars is gone. Home prices are softening, no crash is in sight. Yes interest rates are higher, but what savings did you really have in paying $30,000 or $40,000 over list price?