All Around Connecticut
Are we headed for a housing market downturn? What we know so far is that the FED will raise interest rates, as a response to rising inflation.
So what does that mean from a buyer’s perspective? To put it simply you’re going to pay more per month for the same priced home than you would have a year ago. So many of my buyer clients in last year’s market experienced the fear of buying too high and then seeing a stark change. There were many who simply did not participate in purchasing a home siting that they would rather ‘wait it out until things settle down’. Here’s the unfortunate reality for many who chose to go that route… While you may have dodged the ‘overspending’ bullet, you are actually paying more for the same house now as a result of the higher interest rates.. Don’t believe me?
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