Dear Monica: I am looking for a home and am not sure if external influences are having a significant effect on prices. How much do you think interest rate rises, stock market declines, tax law changes and other factors are going to affect the real estate market? Kirk D.
Dear Kirk: The market now is “softer” than it was earlier this year and all of the factors you mentioned probably have an influence on market changes. It is still an active market though, albeit a bit slower with some price reductions happening. Many buyers are finding good properties to buy and lots of sales are taking place this month. The weather is still warm and though the days are getting shorter, they are still long enough to see properties at the end of the day. Soon this will change.
This is a good time for buyers and you should continue to look the next two months until you find what you want. The balance has shifted in your favor so take advantage of it while you can. Market fundamentals continue to be good and this should help the market remain stable.