Matt Stancato discusses the third quarter's real estate trends.

In a recent interview with Matt Stancato, a representative from Guild Mortgage, we explored the highlights of the real estate market in the third quarter. The interview covered essential topics such as inventory, interest rates, and the prospects for the upcoming fall market. Let's dive into the key takeaways from the discussion.

Two of the critical concerns in the real estate market have been the limited inventory and the potential impact of interest rates. Surprisingly, despite the prevailing wisdom that increased inventory would require lowered interest rates, the market has shown resilience. There has been a notable increase in inventory, leading to a rise in contracts and settlements over the past month or so.

The conventional prediction of a housing bubble and value depreciation has not come to pass. Instead, low inventory levels have bolstered property prices through the laws of supply and demand. As a result, homeowners are choosing to put their houses on the market to capitalize on the significant appreciation they've experienced. The allure of preserving substantial equity has motivated sellers, especially in the upper price ranges, to take action.

Some homeowners who are on the fence about selling are opting to move into rentals for the time being. By doing so, they can cash in on the gains from their property appreciation and make informed decisions about their next real estate move. Despite the fluctuations in the market, it's clear that the current scenario presents favorable opportunities for both sellers and buyers.

“Low inventory levels have bolstered property prices.”

While rates have been high, there is potential for relief on the horizon. Economic data suggests a slowdown in the economy, leading to predictions that the Federal Reserve will only hike interest rates once more before easing up. This soft landing approach is expected to bring rates down and create a more favorable lending environment for buyers.

As summer comes to an end, the fall market promises excitement and opportunities for both buyers and sellers. With the potential for easing interest rates and increased inventory, it's a prime time to explore real estate options. If you're looking to make a move, Guild Mortgage is here to assist you through the process.

If you have any questions about the market or real estate in general, please don’t hesitate to reach out to the Beth and CJ Stein Team by phone call or email. We would be happy to serve as your resource for all of your real estate needs. Happy August, and let's embrace the opportunities that the fall market brings!