According to a recent report, the level of competition among homebuyers has fallen for the second consecutive month and is now at its lowest point since October of last year. The decrease in competition could be good news for those who are currently looking to purchase a home, as it could lead to a more favorable housing market. However, it’s important to note that this trend may not last for long. So if you’re thinking about buying a home, now might be the time to act. Or maybe wait longer.
Boise, Idaho is the most overpriced city in America and it’s not even close. The homes are 73% above what they should be valued at according to Moody’s ratings which makes this place an attractive destination for tech workers who want their skills monitored by high-paid employers while making enough money that will allow them some cushion against job loss during economic slowdowns or natural disasters.
It’s no surprise that more people are waiting to buy homes as mortgage rates continue climbing. However, this increase in activity could lead to fewer offers being made by potential buyers, which will create even greater competition when looking at the next property on your list!
The market is cooling down, but it’s still a good time to buy or sell a home. If you’re thinking of making a move in the near future, contact your local agent and we can help you navigate these changing waters.
