With mortgage rates on the rise, many potential Sellers are wondering if now is the right time to sell. The good news is that despite higher mortgage rates, Buyer activity is still steady and even gaining momentum as we head into the summer selling season. In an article from Keeping Current Matters, we see data pulled from ShowingTime which measures Buyer activity touring homes. In just the first two months of 2023 across the board we saw a noticeable increase in buyer traffic. This is likely due to the limited inventory on the market. In fact, we’ve seen an increase in Buyer activity in February over the past three years. While 2020 and 2021 were influenced by the pandemic, if you look back over the past six years February 2023 shows a considerable rise in activity; even over pre-pandemic years.
Read more here: Buyer Activity Is Up Despite Higher Mortgage Rates
We’re seeing a rise in scheduled showings which indicates that Buyers are looking to purchase this year, even with higher mortgage rates. If you are considering selling your property, give us a call today. I’d be happy to provide you with a market analysis and marketing plan for your property.
For more information on the Crested Butte real estate market, events, festivals, and news, please visit crestedbuttecollection.com. Thinking about buying or selling this year? Give us a call!