The above infographic helps illustrate the shift buyers and sellers are feeling in the current real estate market. Increasing interest rates have led to fewer qualified buyers. Each 1% interest rate increase impacts a buyer’s buying power by 10%. Buyers simply cannot afford what they once could. As we navigate this shift we see an increase in housing inventory; fluctuating prices and a return of adjustable-rate mortgages and loan discount points. Though the market is changing, the Joyer Home Team is steady. We have sold homes when the interest rates were over 17%; let us help navigate you through the market. If you are thinking about making a move now may be better than later to get where you want to be!