The housing market is full of variables.  Some are intensely complicated but others are more straight forward, like supply and demand.  If you remember way back to that Economics 101 class you took in high school or college, you may remember the idea of supply and demand.  It basically says that prices are determined based on how many people are selling and how many people are buying.  If lots of homes are for sale, but nobody wants them, the prices go down.  If lots of people want to buy homes, but no one is selling, the prices go up.

housing market situation

Current Housing Market Condition

Today, the housing market supply has dropped to a level that roughly equals demand and so prices have stabilized.  This means it’s a great time to finally close your home mortgage or refinance your home loan.  While some waited, fearing that their home value would continue to fall, the current housing market shows signs that home values will now hold steady or even start to increase modestly.  Low interest rates and stable home values are a great combination for homeowners.  Give us a call to see if we can help lower your home mortgage payment and put some money back in your pocket.

If you want to read more about housing supply and demand, check out this article.