Has the Market Peaked?

Quick question:  Has the market peaked? As home prices increase, the federal reserve has raised its interest rates. As the federal reserve raise interest rates and buyer income goes to compete with the rising prices in real estate it begins to create a bigger gap in the market. What we then see is that buyers start slowing down because they don't qualify for as much, since interest rates were at 4 percent and now they are at 5 percent today. The federal reserve wants to raise the rates at least two more times, maybe three times, in this next year. So, we may head into a 6 percent rate. If you know of anyone thinking about buying, suggest they consider their options sooner than later. For someone who is selling, we are looking at certain price points that are going to be hit more than others because as this gap widens we know more people don't qualify at higher price points. If you know someone who is buying or selling we would like to talk to them as soon as possible—please give us a call at 512.261.1000.