Thursday, March 31, 2022 / by John Salkowski
Rising interest rates may stabilize our market, but not by lowering prices.
Will home prices go down as interest rates go up? In short, I don’t believe prices are going down anytime soon.
Interest rates are going up, and that will limit buyers’ purchasing power. You may see things stabilize. We might not have as many multiple-offer situations and offers over list price. However, I don’t see prices going down.
Our market has been crazy with all of these multiple-offer situations. We need something to help it stabilize, and I believe interest rates will do that.
If you have any questions about this or another real estate topic, feel free to call or email me and my team. We would love to help.