In my local market of Epping and Raymond NH, houses are still selling for over-asking price. My two most recent properties closed in August. One or $45,000 over and one for $50,000 over-asking price! Don't be fooled by headline news. It's best to sit down and talk to a trusted real estate advisor about your individual house, circumstances and needs. I am just a phone call away.
If you're thinking about buying or selling a house, it's important to know that it doesn't just affect your life, but also your community.
The National Association of Realtors (NAR) releases a report every year to show how much economic activity is generated by home sales. The chart below illustrates that impact:
Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last year’s peak, they’re still higher than they were a couple of years ago.