Well, what does this mean? We are all seeing rising interest rates. Does this mean something bad is about to happen? No, this means that yes, there will be fewer buyers in the market then we have been seeing, but this is a bit of a relief to buyers because the ones that have been getting beat out time after time again will finally have a chance now of winning bids on homes, as there are still a lot of buyers that have been looking for quite some time. 

Interest rates are rising, yes, but they are still in the single digits and it's still cheaper to buy than it is to rent. 

There are still those cash buyers out there, so sellers don't need to panic, but here's a great question: does mean that homes need to be aggressively marketed when they are listed? They always need to be in our opinion, but the newsflash of a new listing needs to be sent out anywhere and everywhere to get every buyer that's looking in that area and price range knowing about the new home for sale.  More buyers=more offers=higher sale price.

Here's an article talking about what all of this means for buyers in this summer market. Do you have any questions? Call us! We're always available to help.