The big news in the real estate world is that it looks like the Federal Reserve is getting ready to lower interest rates soon. Right now, mortgage rates are hovering around 6.5% to nearly 7%, which has been keeping some buyers on the sidelines. But with the anticipated rate cuts, things could start to shift. Even a small drop in rates might make monthly payments more affordable, which could encourage more people to jump into the market.
In McCall, where homes are staying on the market longer (about 116 days on average), the lower rates could help get things moving again. Buyers will have more choices, which could give them a little more negotiating power.
The combination of more available homes and better mortgage rates could bring more activity this fall. Just keep in mind that prices might tick up as competition heats up.
In a changing market like this, having a realtor with deep local knowledge can help buyers find the best value available and help sellers price their homes for quick and profitable sales. Feel free to give me a call!