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Real Estate Insights Amidst Interest Rate Shifts – Tom’s Take 369

Jerome Powell’s latest statement on interest rates is crucial. He doesn’t expect rates to return to pre-pandemic lows, and that’s significant for anyone considering real estate decisions in the next 6 to 24 months.

Rates were in the mid fours pre-pandemic, but projections suggest they’ll be in the low sixes by 2024. Waiting for lower rates isn’t wise due to potential inflation risks.

Over 86% of homeowners have rates at 6% or less, and home prices are appreciating, especially in certain areas. Waiting may mean missing out on equity and paying rent without building equity.

For sellers, rising inventory suggests now might be the time to act, especially if cashing out or moving elsewhere.

Don’t bank on rates dropping further. If a home purchase opportunity aligns with your goals, it might be wise to act sooner rather than later.

Considering these factors, it’s crucial to strategize with a professional to make informed decisions. Schedule a discovery call with our team!

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