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/u/Rough_Inspection_444
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I got my current place in 2020 with one of those amazing 2.5% rates. Problem is, the neighborhood is a bit... nasty, and after 4 years we'd like to live somewhere better. So we decided to sell our house, take that equity and put it into a new place in a better location. Unfortunately this is going to mean accepting a higher rate, which I thought I was ok with as I figured we could refi when rates drop again, which it seems like everyone is expecting them to do eventually.
But after seeing this data that came out that that says home sales are at record lows, I am wondering what people's thoughts on this plan are. Is this going to cause house prices to start falling? I would hate to think we would find a new place, take the higher interest, but then see house prices start to plummet and be left with an underwater loan. At the same time, if they do start to drop, that would mean we'd get less for the house we're trying to get out of. Starting to feel unsure and feeling a little stuck.
submitted by /u/Rough_Inspection_444
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With home sales at historic lows, and rates not dropping soon, is now a bad time to sell/buy?
Continue reading...
But after seeing this data that came out that that says home sales are at record lows, I am wondering what people's thoughts on this plan are. Is this going to cause house prices to start falling? I would hate to think we would find a new place, take the higher interest, but then see house prices start to plummet and be left with an underwater loan. At the same time, if they do start to drop, that would mean we'd get less for the house we're trying to get out of. Starting to feel unsure and feeling a little stuck.
submitted by /u/Rough_Inspection_444
[link] [comments]
With home sales at historic lows, and rates not dropping soon, is now a bad time to sell/buy?
Continue reading...