The Summer Housing Market is Heating Up

The summer housing market is heating
up, so whether you’re buying or selling, It’s time to prepare now for what lies
ahead.

Here’s a glimpse of what to expect if
you’re diving in:

– A more active selling season than
spring, with sales likely ticking up by 5% compared to the first 3 months of
the year.

– While sales may increase, inventory
will likely stay limited as current homeowners sit tight and rates remain high.

– That’s not all… Some analysts
predict that rates will level off in the 6% range as inflation eases, slightly
boosting affordability for buyers.

Here’s what that means for
buyers:

– If you find a home you love, act
quickly and make the strongest offer you can. Consider a large down payment or
purchase with cash if possible.

– One more tip: While you can’t control
prices, you can improve your chances of getting the best rate by improving your
credit score now. Three quick ways? Pay your credit card balances down, ask for
higher credit limits, and review your credit report for errors.

And what it means for sellers:

– While prices have cooled from the
previous year’s highs, you will likely receive multiple offers IF you price
your home competitively.

– That said, you’ll definitely want to
work with an experienced agent to manage offers and maximize your sale price.

-Megan Stultz

Call or Text 936-537-2587

Megan@Southern-Luxury.com

www.Southern-Luxury.com