Property taxes are a significant part of owning a home, and while they’re often something we pay every year without much thought, understanding how they work is essential. Whether you're
Is This a “Normal” Real Estate Market Yet?
Dated: April 6 2023
Views: 176
The events of the last few years disrupted almost every facet of our lives and the real estate market was no exception. Buyers and sellers across the country have experienced a market more volatile and unpredictable and are wondering if we will ever return to normal? Will the tougher economic times ahead help balance the real estate market?
As interest rates rise to slow the economy, the housing market is feeling the shift. Gone are the cheap loans and quick home sales. Today’s buyers have the luxury of being choosier and sellers must again offer their homes at a reasonable price in good condition. While this “feels” like a normal market condition, is it?
The essence of a “normal” real estate market would be predictability and confidence, but we are not seeing this yet. True, the slowing economy and rising interest rates have moved us away from the frantic pace of the past few years, but experts question whether this means a traditional “buyers’ market.”
The pandemic changed the way we work, and where, also. People around the world are moving. With remote working a normal occurrence, people can live anywhere they want. Cities are emptying out and some states are seeing an influx of new residents anxious to avoid high-tax states.
With all these added elements, the real estate market may not return to the “normal”, more predictable patterns we’re accustomed to for years, maybe never. For consumers, the most important thing is to make the right decision for their families. There are opportunities in every market, even if it doesn’t feel “normal.”
Sweet Magnolia Homes
Sweet Magnolia Homes brings a local knowledge to the markets we serve that has been obtained from years of living and working in Atlanta and the surrounding suburbs. This means our agents are intimate....
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