When an article on the future housing market starts with even Nostradamus couldn’t figure it out, well that humorously says a lot. That is exactly the opening line of one of the quick read articles attached.
The ol’ standard question Ray and I were usually asked was, “How’s the real estate market?”. As of late the question has switched to “What do you think of the market?”. These two articles published by the Florida Realtors Association sheds some light on the subject. I found both interesting and I thought perhaps you would too. They dive into where we are now and the possible future in the real estate market, and how the new administration might impact the market. The one thing we keep saying is to keep an eye on is the interest rates for mortgages. When interest rates increase home sellers will need to take note and adjust. Potential buyers have a monthly budget and mortgage lender have a strict debt-to-income ratio to adhere to. When interest rates increase that will reduce the dollar amount buyers can spend on a house. Period.
Check out the articles…