Three of the major changes that happened in our real estate market.
The real estate market has been a bit volatile lately, so I’m sharing three things that have changed in the real estate market in South-Central Pennsylvania in 2022 and what they mean for you.
1. Interest rates. They have risen, which means the cost of borrowing money has gone up.
2. Aggregate sales. They have decreased from 6.2 million last year to 5.2 million this year nationwide. That’s about a 20% decline in total sales.
3. Inventory and sales prices. Inventory has risen, and despite that, prices also continue to increase. It’s a little strange, but this is happening because supply is still low.
What does this mean for you as a buyer? There might be a little more to choose from than there was in previous months. If you’re a seller, it means that you’ll still get more for your home now than you would’ve earlier this year.
If you have any questions about the value of your property or would like a free buyer conference consultation, reach out to us at (717) 216-0860 or email dave@davehooketeam.com. I look forward to hearing from you. Click here to get all of our latest community and listing updates: Facebook.com/DaveHookeTeam
