Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10
Homes in Charlotte are selling super fast right now, buyers are ready to pay thousands above the asking price.
But the competition could slow down in the near future shows the new numbers.
It is good news if you have been priced out of the red-hot housing market. Because experts feel the market may be starting to cool.
Right now the houses are selling quickly, buyers are often ready to pay thousands above the asking price.
The reason for it is a big increase in demand and record-low mortgage rates. But says things may be changing says Realtor.com.
Fewer Homebuyers are applying for mortgages and price growth is slowing down say the new data.
The chief economist for Moody analytics says mortgage rates aren’t going to stay this low forever.
And once the prices go up, housing prices will automatically adjust. As more people are returning to work, the demand for a perfect home office will go down.
Even if the home prices drop, experts are not expecting a calamity. The experts do not believe this is a housing bubble, and they aren’t expecting a crash like in 2008.
The prices probably won’t plunge, but you may have less competition when you make a bid.
Reference Source: WCNC
