Mortgage rates are finally down! 📉
“Every move signifies a fresh start, a chance to decorate your life with new experiences and make new memories in a new place.”
Mortgage rates have dropped this month to their lowest level in 15 months in anticipation of growing consensus that the Fed will cut rates soon. Maybe it’s finally time to make a move?
Sonoma County Housing Market Update & Predictions For 2024: What’s Happening With Rates, Prices & Inventory?
Are you wondering what’s going on with Sonoma County real estate this year? Our market is always evolving, so it’s important to stay up-to-date if you’re eager to achieve your real estate goals. From declining sales to interest rates and inflation, let’s take a look at the real estate trends that are shaping our market and what’s to come the rest of the year.
Has the Sonoma County Market Peaked for the Year?
The summer season is here, and vacationing is more on the mind than moving.
Of course, some aren’t making home moves because they’re still waiting for a mortgage rate drop. Though some economists, such as NAR’s Chief Economist Lawrence Yun, are predicting that they will come down a bit by year’s end, they won’t come close to the 3% that occurred during the once-in-a-lifetime pandemic event.
May Sonoma County Real Estate Update
“Price is what you pay. Value is what you get.”
– Warren Buffett
I’ve been pondering this idea lately. The importance of value over price in decision-making.
Do I buy organic because it’s better for me, even though it’s more expensive? Do I invest in key wardrobe pieces that will stand the test of time or opt for the Amazon version?
We currently live in a price-sensitive world where even those who are considered “wealthy” are having to contemplate this choice due to the rising cost of living. It’s at the core of every purchase we make… including our homes.