Pensacola, FL Real Estate Market Update

Welcome to my blog and thank you for joining me today.

What’s going on in the market?

We had a great summer with a lot of home sales activity. Prices did increase slightly, but I expect appreciation to slow. Why? Because interest rates have increased, there is an effect on the purchasing power of buyers. When buyers’ affordability is limited, sellers must adjust their home price to sell.

Is now a good time to buy and sell?

Now is absolutely a great time to both buy and sell. Despite the recent increase in interest rates, they are still historically low. We don’t expect them to stay that way, though. It’s important to lock in that lower interest rate because even the slightest increase affects your purchasing power.

This is important to sellers too, because as the purchasing power becomes more limited for buyers, it means fewer and fewer people are able to afford their home.

Thanks for joining me today!