The state of the real estate market is a hot topic in the media now. Higher mortgage rates and declining home sales grab most of the headlines. But it’s not all bad news. After the last few hectic years, many experts believe we are trending toward a more “normal” or balanced scenario that will benefit both buyers and sellers.

You may have questions about what that means for you as a potential buyer or seller. This month, we are sharing with you an overview of what a balanced market looks like from both perspectives. We are also providing a historical dateline of mortgage rates over the past decade, as well as some basic definitions of the different types of real estate markets. 

It’s important to remember that what is happening nationally or even in another area can be quite different from what is happening in your area. Rest assured we are staying on top of trends here in our community, and we would be happy to answer any of your real estate questions or concerns at any time.