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Higher Interest Rates and the Market

Dear Monica: Have higher interest rates affected the current real estate market? How are buyers reacting? George T.
 
Dear George: Interest rates have risen multiple times since March 2022 but are trending downward at the present time. Buyers have more or less absorbed the higher rates and sellers have adjusted prices as well.
 
The long rainy season kept many sellers from putting their homes on the market but now that spring is here, sellers have been listing their properties. Demand is high and inventory is low, keeping the market tight. If you have been waiting to sell your home, now is a good time to do so.

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