It’s that time of year when people start wondering, “Should I list my house now or wait for the Spring?”
Here’s some info on the state of the market. Yesterday, Matthew Graham at Mortgage News Daily wrote in an article Mortgage Rates Recover After Flynn Headlines:
- Mortgage rates were at their highest levels in roughly 1 month as of yesterday afternoon.
- While rates remain low in absolute terms, they’ve moved higher in a more threatening way heading into the 4th quarter, relative to the stability and improvement seen earlier in 2017.
As you know, when rates go up, monthly payments get higher and people can’t afford as much house. It’s a sellers’ market in Anne Arundel County now – as of the end of last month we just had 3.2 months of inventory, way below the 5-year October average of 4.6 months. In about a week, the next month’s MLS statistics will be out, and I’ll get them to you.
If you’re thinking of moving, or you hear of someone who is, it’s a great time, so let’s talk sooner rather than later. All but one of my active listings have sold, and I’ll be in town for the holidays and ready to meet with people who have moving on their wish list.
P.S. Considering a move? Please call for a confidential chat. Your personal needs, wants, and finances are my priority and my passion and my specialties run from waterfront luxury estates to distressed properties.
Call me today for your Annapolis real estate needs, or for a referral to a great real estate agent anywhere.
Carlyn Lowery, Associate Broker, eXp Realty, Annapolis Real Estate, Annapolis Waterfront Homes, Annapolis Luxury Homes, Anne Arundel County, Maryland, 443-569-3977 or 888-860-7369 x146