I think that we would all agree that this market has been like none other that we
have seen (but then international pandemics don’t come around often, thank
goodness).
What started in 2020 looking like a potential real estate blight, became a buying
and selling frenzy instead. Fueled by low-interest rates and low
inventory, prices soared and properties flew off the market, often with Sellers
having multiple offers to choose from.
Now in only a few months interest rates have gone from the low 3% to 6%.
What will that mean for the upcoming market?
Clearly, a number of locals are no longer active Buyers. That will mean less
competition and I expect fewer multiple offer scenarios.
But as long as inventory is low, prices will not be decreasing yet…
Number of Listings for Area Code 99603
July 2021 – June 2022
Listings Prices for Area Code 99603
July 2021 – June 2022
Homer Real Estate 