As the fall season kicked off officially on Sept. 22, so does a new season for the real estate market, which is continuing to face challenges.
Buyers who are sitting on the sidelines to wait for spring may miss a window of opportunity, she said. “This lack of supply, coupled with the past year's rising interest rates, has sidelined sellers that are locked in at low mortgage rates, along with price sensitive buyers who are able to make their current living situations work, for now,” Gallagher said.
Prices will hold in the popular areas while some softening will happen in fringe neighborhoods with expanding housing stock, Gallagher predicted. “The best time to buy a home is when others are scared and your motivation is for a longer-term hold,” Gallagher said.The chill is in the air in Indiana. As the season changes, so does the real estate market.