Top tier lending rates are in the 5%’s at the moment!
Rates immediately improved last week following the Fed’s recent message that "…the time has come for policy to adjust. The direction of travel is clear."
Rates have continued to improve and I've noticed an immediate reaction in showing activity on my listings. I consider this to be a good sign. It provides me instant feedback from the market, letting me know that buyers are out there on the sidelines waiting and watching rates. I believe that the natural demand to make a move in our area still exists and shoppers are ready to jump back in. It all teeters on that delicate threshold of affordability.. and I think it will improve! It will just be a slow and steady process as we ease into a new market and I'll be interested to see how much it dictates pricing moving forward. Right now I am seeing price reductions across the board to keep listings competitive. Buyers definitely have more leverage and negotiation power at the moment and if you can make the numbers work, it may be a good time to shop. It just might take some strategy and advice from an expert ;) - Greg
21520 Powderhorn Drive, Bend, OR 🏡 97701 - $1,399,000
PRICE REDUCED AND READY TO MOVE!
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