in the same building with one less bathroom and no den area sold for roughly the same price , and the market shift becomes even more clear.Although it would seem that buyers’ budgets would be going further now, allowing them to buy homes that seemed out of reach just a few short months ago, realtor Osman Omaid says that buyers are“Buyers are still budgeting the same for monthly expenses, however that doesn’t necessarily mean they have the same budget on purchasing a house,” Omaid told STOREYS.
“From personal experience, I am finding that first time home buyers are substantially less active, and some are completely out of the market due to the increase in interest rates, while savvy investors that are not reliant on substantial mortgages are coming in to take advantage of the relatively low prices and high rental rates,” Mitrovic said.buy right now are opening themselves up to opportunities like a sprawling 1,710-sq.
“Buyers have more leverage in the market, meaning we’re seeing much less bidding wars and firm offers,” Omaid said. “Buyers can finally include conditions in their offers and take their time with decisions. We’re not seeing properties getting sold in a matter of days, it’s usually a matter of weeks now. The general stress level on the buyer’s side is just much less now.”
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