National Market Update, Jen O’Hanlon – Martha’s Vineyard

Jen O'Hanlon, Broker, REALTOR®

01/19/20

We are seeing lower interest rates right now than we have seen since the beginning of 2018. Interest rates are also expected to remain low through 2022 according to authorities like Fannie Mae and Freddie Mac.

The low interest rates will help keep the economy stable and give buyers confidence to make a purchase. Lower interest rates means more buyers are able to qualify for a home.
So, if you’re thinking about selling, now may be a good time because there are more buyers who can qualify.

AND if you’ve been renting but thinking about buying, you should take note of the fact that rents have been on the rise for years and those prices are not going down.

With all of the talk of a recession, some people are on the fence as to what they should do. Interestingly though, housing prices actually went up in three out of the last five recessions, so waiting may not be the best strategy.

To conclude – with interest rates expected to stay low and rents going up, now is a great time to buy, sell or purchase an investment property.  
Please reach out to me with any questions, as I am always here to help.
 
 

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