The Impact of Interest Rate Hikes on Real Estate Rise Seattle

Everyone wants to know, “How’s the real estate market?”. But getting a straight answer to that question is tough and often confusing. We’re diving deeper into the numbers to explore the market and help create clarity. When you understand what’s going on, you feel more confident in making decisions to buy and sell.  Interest rates continue to dominate the headlines as they have been on a steady rise since February of this year. And they deserve our attention because they have a big impact on affordability. If interest rates go up 1% a buyer can afford approximately 10% less in purchase price. And we’ve said this many times before: people live in the payment, not the purchase price. Rates have risen by over 1% these past few months and we are seeing buyers adjust their expectations by lowering their search prices. But please note, they are still looking to buy!  And while interest rates are important and the rate hikes are affecting the market, inventory remains the star of the show in our opinion. Listen to Tyler and Adam dive into the data to ensure you're the most informed real estate investor out there in a shifting market!