April Market Report

From the beginning of the year until now, we have seen a shift in supply and demand which is creating a lot of electricity in the market and causing more competition. It is likely that we will see home prices increase in the next few months as many homes are selling over the list price.

In the 8 weeks through early April, interest rates have fluctuated between 6.74% and 6.94%: Up from January, but still well down from last fall. After the big jump in December-January, buyer confidence is at its highest point in almost 3 years! Inflation rates have remained stable since October but reductions are still expected later this year.