If you need assistance, please call 256-766-0000

Market Update | BrickDriven Realty Blog

Friday, January 6, 2023   /   by Shane Kilby

What You Should Know About Our Slowing Market

Why our housing market is slowing and how it affects your home.


With the recent interest rate hikes, everyone wants to know if the market is slowing. Yes, the market is slowing down some, but it is still a good time to sell.
 
The number of homes on the market slightly increased. At the same time, buyer demand also decreased. There are a few main reasons why we’re seeing this change. 

First, the Federal Reserve has been fighting inflation by raising rates, which has made it harder for buyers to afford homes. Second, we’re also seeing a change with newly-built homes due to altered zoning laws and code changes.
"The market might be slowing, but it’s still a good time to sell your home."
 
How does all of this affect your home? The drop in buyer demand has already led to immediate changes like fewer offers on properties. Home prices are still increasing, but some experts predict that prices could flatten soon as inventory increases and d ...

  real estate, market update

BrickDriven Realty
3505 Florence Blvd
Florence, AL 35634
256-766-0000

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.
The data relating to ValleyMLS on this Web site derive in part from the North Alabama MLS (NALMLS) IDX datashare program. © 2024 Valley MLS, Inc. All information provided is deemed reliable but is not guaranteed and should be independently verified.
This site powered by CINC: www.cincpro.com