Posts from September 28th, 2022

The real estate market continues to shift. The market is shifting from a seller's market to a more neutral market. We are seeing homes listed take much longer to sell. There are more sellers reducing their list prices. The real estate market was so strong in the spring of 2022 that you were rarely seeing price reductions. Things have changed.

We are seeing an increase in properties listed for sale. At the time I am writing this, there are 398 residential listings for sale in Coweta County. We were typically dealing with only 140 listings for sale just a few months ago. At the same time, mortgage rates have increased dramatically. Mortgage rates nearly touched seven percent during the week of September 19^th, 2022. This is the highest rates have been in years. The mortgage rates increase curbed buyer enthusiasm as we are seeing less buyers with less buying power. So, all of this should decrease property prices, right? This is not the case at all right now.

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