Here are a few perspectives to consider if you're currently on the fence about selling your home this fall:
- Buyer demand has been decreasing as interest rates and inflation have been rising. Right now mortgage applications are 41% lower than they were at the same time last year.
- Even so, inventory in Dane County remains quite low, which is a positive for sellers.
- Interest rates for a 30-year mortgage are at about 7 percent right now, but many people believe they will go higher.
Will the market be better for sellers in early 2023? Not necessarily. Because we don't know what will happen with inflation, interest rates, buyer demand, and inventory next year.
So, if you are thinking of selling your home in the near future...