North Atlanta Real Estate Minute
Every year, agents, lenders and closing attorneys prepare for the holiday season “slow down.” Kids out of school, holiday shopping, and travel take priority.
Once again during this holiday season, we are listing homes and meeting with clients to prepare for 2023. Some are anxious to make a move in the event the housing market corrects beyond a mild pullback or interest rates increase. Others just need to make a transition now for work or family needs.
Our November update for the Roswell, Alpharetta, and Johns Creek housing market calls for a softening, but if interest rates revert in 2023, there is a chance that we could find a bottom soon and begin to see a stronger market this spring or summer than the current trend line suggests.
Mortgage News Daily recently stated that rates are at a 2-month low and the latest chatter is the Fed could begin to taper rate hikes to 50bps on December 14th. The assumption is today’s rates have already factored in the next Fed rate hikes and our lender contacts could see rates come back down into the 5% range later in 2023.
Our team is here to help, and as the top real estate team in North Atlanta, we have a proven track record of delivering superior results.