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It’s been a while since I gave an update on the state of our market, so today I’ll share a few interesting trends we’ve seen recently. Back in September, I made a few predictions about what was to come in 2016.
I anticipated a healthy increase in prices and that is exactly what we’ve seen so far this year. Inventory is still low, so we can expect to see more appreciation moving forward.
Back in 2015, I predicted that interest rates would rise throughout 2016, but I was wrong. Even after we saw a rise in rates in December, rates have remained pretty low. In fact, Wells Fargo recently had a 30-year fixed mortgage with an interest rate as low as 3.5%, which is pretty incredible. Of course, this has a lot to do with the bond and stock markets and how they are related.
If you would like a more in-depth market analysis, or if you need real estate assistance of any kind, please don’t hesitate to reach out to us. We would love to hear from you!
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