Real estate market holding up, experts say

As the boom in the real estate market continues across the country, demand isn’t expected to slow down anytime soon in the upstate. In early 2022, real estate agents told WYFF News 4 that it was difficult to keep homes on the market. could slow down anywhere else, but not here,” said Palmetto State Home Mortgage owner Shawn Ezell. Ezell says he talks to about 10 people every day who move upstate from across the country. A real estate agent says the market is definitely still strong for sellers. Home Services, C. Dan Joyner Realtors, said. “If you look at the stats. Days on the market continue to shrink.” Irwin says they’re seeing slightly higher interest rates, so that’s forcing buyers to adjust their expectations a bit, but that doesn’t preclude most to buy. “So someone who could afford a house here around a 3% interest rate at the beginning of the year or maybe last year, is now looking at a 5% interest rate. .5%,” she said. “So they’re looking at a house more in that price range.” Likewise, says Ezell, it doesn’t stop anyone from trying to buy. He says interest rates are still historically low. “We’ve seen 2 downs there for a while,” he said. “Now we’re back in the 4s and 5s, and that’s normal. That’s what the rates are. Historically, still low. In the 80s, they were in the 14s and things like that. Now it’s just a little higher than it was, but it’s still great. Good news for buyers, Irwin says there are more homes coming on the market. “We have a really great place in the market, where if you’re a buyer, you could potentially have more options, depending on where you’re looking. “, Irwin said. “In what area. So it’s a really great place in the market for a buyer to have a few more options, but also for a seller to still do really well. “Looking ahead, experts don’t see the market calming down completely anytime soon. But Irwin wants to allay fears of a major stock market crash, which she doesn’t expect. “I was in the market during the crash of 2008 and I’ve seen all of this, and it’s a completely different situation that we find ourselves in. right now,” she said. “So I think what we’re going to see is just a slight market correction, which quite frankly might be needed. Experts are still strongly encouraging people to buy instead of rent, quickly noting rising rental prices as well. “It’s a lot cheaper than renting. You know your money is going somewhere. You’re not throwing it away. You’re not paying someone else’s mortgage for them. And you’re going to benefit from it. C It’s one of those things where it’s the best investment you can make.

As the boom in the real estate market continues across the country, demand isn’t expected to slow down anytime soon in the upstate.

In early 2022, real estate agents told WYFF News 4 that it was difficult to keep homes on the market.

“It can slow down everywhere else, but not here,” said Shawn Ezell, owner of Palmetto State Home Mortgage.

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Ezell says he talks to about 10 people every day who move upstate from across the country.

A real estate agent says the market is definitely still strong for sellers.

“Prices continue to rise,” said Leigh Irwin, realtor at Berkshire Hathaway Home Services, C. Dan Joyner Realtors. “If you look at the stats. The days on the market keep shrinking.

Irwin says they’re seeing slightly higher interest rates, so that’s forcing buyers to adjust their expectations a bit, but that’s not stopping most from buying.

“So somebody who could afford a house here around 3% interest at the start of the year or maybe last year is now looking at 5% interest, 5%,” she said. house more in this price range.”

Likewise, Ezell says that doesn’t stop anyone from trying to buy. He says interest rates are still historically low.

“We’ve seen weak 2s there for a while,” he said. “Now we’re back in the 4s and 5s, and that’s normal. That’s what the rates are. Historically, still low. In the 80s, they were in the 14s and things like that. Now it’s just a bit higher than it was, but it’s still great.

Good news for buyers, Irwin says there are more homes to come on the market.

“We have a really sweet spot in the market, where if you’re a buyer, you could potentially have more options, depending on where you’re looking,” Irwin said. “In which area. So it’s a really great place in the market for a buyer to have a few more options, but also for a seller to still be able to do really well.

Looking ahead, experts don’t see the market calming down completely any time soon.

But Irwin wants to calm fears of a major stock market crash, which she doesn’t expect.

“I was in the market during the crash of 2008 and saw all of this, and it’s a completely different situation we’re in right now,” she said. “So I think what we’re going to see is just a slight correction in the market, which quite frankly might be needed.

Experts are still strongly encouraging people to buy instead of rent, also noting a rapid increase in rental prices.

“It’s a lot cheaper than renting. You know your money is going somewhere. You’re not throwing it away. You’re not paying someone else’s mortgage for them. And you’re going to benefit from it. C It’s one of those things where it’s the best investment you can make.

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