Mortgages are once again incredibly low:  Last year mortgage rates kept dropping. The current 30 year fixed mortgage rate stands at 3.49%.  just 0.18 over the all time historic low.

Home Prices are rising: Home prices rose 3.6% over last year (as of July 2019). We are seeing fewer bidding wars.  Just 10% of homes listed end up in a bidding war, compared with 42% last year.

Existing home sales are barely holding steady: Home sales have dropped every month for the past year and a half.

Therefore, we have an unusual Real Estate Market. Mortgage rates are incredibly low, making homes more affordable. Prices are increasing, but not being driven by heated bidding wars.

What’s going on is partially due to overall economic uncertainty. The stock market is experiencing big swings, pushing mortgage rates down while keeping buyers on the sidelines.

Housing inventory was near all-time lows, explaining the low number of sales.

If you are considering selling your home, I think right now is the moment to act. Low mortgage rates make homes affordable to buyers. This can change at any time.  Home prices are very healthy right now.

Right now chances are you can sell your home quickly for top dollar. 

Contact us:  (206) 618-5123 or email Penny@TalkToPenny.com

Serving:  Bainbridge Island, Poulsbo, Kingston, Silverdale, Bremerton, Port Orchard, Port Ludlow and Ocean Shores.                  

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