Local real estate agents and lenders weigh in on the current state of the housing market and how it is reflected among buyers and sellers.
The housing market is getting more crowded as it remains consistent, but a local real estate agent shared his thoughts on the market and if inflation could become an issue.
Realtors have seen a rise and fall in the housing market, but it has remained constant over the past month.
“The market really hasn’t changed much. Buyers are still there. All of my buyers are still looking who haven’t been able to get a home. I haven’t seen any decline at all. said Dee Caruana, realtor at Agresti Real Estate.
The only decrease that real estate agents have noticed reflects the patience of future buyers during the buying process.
“We lost a few buyers during the period due to frustration at not being able to secure a home due to the multiple bidding process,” Caruana added.
The market now offers these buyers a solution and a better chance of eventually hearing “Congratulations on your new home.”
“We haven’t grown much, but there are definitely more listings on the market, which obviously helps buyers,” Caruana said.
This consistency is reflected in banks for people looking to take out a mortgage on a home.
“Here at Marquette, I don’t think we’ve seen a change. Many offers to buy a home are always competitive and multiple offers, and that’s why it’s important for our customers to come in and be pre-qualified before buying a home,” said Ed Drexler, senior vice president. residential loans at Marquette Savings. Bank.
A local real estate agent from Agresti Real Estate tells us what potential buyers need to know before buying their home
“Pre-approval is super important. You don’t have time in this market to call a lender and get pre-approved because deals close so quickly. Second, patience. They absolutely have to be patient added Caruana.
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Caruana said she believes inflation will eventually play a role in the market leading to job losses and high interest rates.