The incoming fall season inspires change in the current lake homes market. Lake Homes Realty’s CEO, Glenn Phillips, gives five keys to follow in order to keep up with this fall lake homes real estate market!
- Price Growth Peaking: The acceleration in price growth is finally coming to a plateau now that the summer rush is over.
- Mortgage Rates MIGHT Matter: Mortgage rates could be a hedge against inflation. Paying off a mortgage with a lower interest rate than inflation rate may be an option.
- Inventory to Remain Low: Inventory will most likely remain in low supply, meaning there still won’t be many homes coming to the market.
- “Less” Competition: The competitive edge of today’s market will begin to subside, especially because people are losing the extra time they gained in the midst of Covid.
- Long Distance Buyers Remain: These buyers should be taken into account when selling, and it’s important to have an agent who can tap into this pool of buyers.
The change in season doesn’t stop the lake homes real estate market, but it does have an effect on it! It’s crucial to stay on top of this shifting market, whether you’re buying or selling a lake home.