As a Seniors Real Estate Specialist (SRES) in the San Francisco East Bay, I understand that many people, especially seniors, may try to wait for the perfect time to sell or buy their home.
It's natural to hope that home prices will drop or mortgage rates will fall even further.
But here's the reality...
Trying to time the housing market perfectly is extremely difficult, and often, it's not necessary.
While mortgage rates have come down to around 6.2%, a welcome drop from last year's peak of 7.8%, there's no guarantee they'll keep falling. The Federal Reserve's future decisions are closely tied to the strength of the labor market. If the labor market stays strong, rate cuts might be smaller and rates could fluctuate throughout the fall.
Instead of waiting for a market shift, focus on what you can control.
If you're thinking of buying, concentrate on finding a home that fits your needs and budget today. And if rates drop later, refinancing could always be an option.
If you're selling, pricing your home competitively from the start is key. While the fall season can slow things down, inventory remains low, and well-priced homes are still attracting buyers.
In the end, making decisions that align with your personal situation—whether you're downsizing, relocating, or simply looking for a fresh start - is far more important than trying to predict the unpredictable.
Staying informed and making thoughtful moves now will help you achieve your long-term goals and maintain financial stability.
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