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Is the McAllen Real Estate Market Favoring Buyers or Sellers?
Manage episode 167180053 series 1320052
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In our current market, inventory is low and so are the interest rates. This is good news for both buyers and sellers.
As a real estate agent, one question I get asked all the time is, “Are we in a buyer’s or seller’s market?”
With inventory being so low and seller’s almost always getting asking price, I’d say we’re in a really good seller’s market. As we look toward the future, I see home values increasing in our area and experiencing their fair share of multiple offer situations and bidding wars. That’s a great sign that our market is still going strong.
Our market is still going strong.
Another question I get asked a lot is, “What do interest rates look like?”
Right now, interest rates are at record lows. When I got my real estate license back in 2005, we were looking at 6% and 7% rates, which I thought was awesome. In today’s market, our rates are hovering around 4%.
What does all this mean for both buyers and sellers? If you’re a buyer, you can secure a purchase with a very low interest rate. If you’re a seller, it’s the perfect time to get the highest possible price for your property.
If you’re thinking about buying or selling real estate, please don’t hesitate to give me a call or send me an email for a free consultation. I look forward to helping you!
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