Interest rates have not been a factor recently, they have been in a bracket of "normal" for months with little dramatic swings. 📉📈📉

So...buyers that want to buy are out buying and getting deals, and some buyers are waiting for lower rates so they can pay higher prices for homes. 😂

“If you really want to do something you’ll find a way.
If you don’t, you’ll find an excuse.” – Jim Rohn

It stings these high interest rates when you go to calculate monthly payments however there is good news. REFI when they come down offsets the shock. 

 For first time buyers, or buyers who are right on the edge financially, interest rates are crucial.  Even a quarter point increase can be a deal-breaker. 

   But not for the majority of sales I have seen in recent years.  Interest rates were never a show-stopper.

Interest rates have not been the driving force behind sales in the last half dozen years, or more.

No, we're about 80% cash buyers in my market.  And first time buyers still can't afford a house at the current rates and prices.

Sellers are still selling. 

Buyers are still buying.

Professional real estate agents are still working hard to serve their clients. 

Other agents, well, are still trying to figure things out. 

The Beat Goes On. 

The inventory shortage is a bigger issue than the interest rate changes.

Bo Zivak 

I had a customer go under contract on Saturday at 6.75% in hopes that it will go down in the future.

No impact yet.  Rates haven't changed enough to get buyers qualified for enough more money to make much of a difference.

Not at all

Just like everywhere else - sellers are sitting on their 3% mortgages and don't want to give them up, reducing inventory. Buyers are facing higher prices and thus higher monthly payments based on cost of houses and higher interest rates, reducing affordability. High end buyers are buying with cash, regardless of cost, driving home prices even higher. This will not last.