Steve Dick, Real Estate

If you or someone you know is considering a move, feel free to contact me with any questions. I'm here to offer clear concise information you can trust. I also belong to a network of top real estate professionals, and I can connect you to one wherever you're looking to go.

In 2023, there were fewer than 4 Million real estate transactions in the U.S., this is the lowest number of homes sold in the last 30 years. Coming into this year, there is a huge pent-up desire for people to move in 2024.
The #1 age group that wants to make a move is Millennials, there are 72 Million of them, 45M are between the ages of 26 & 35, 26 is the typical age when people move out of their parents homes, and 35 is when they become first time homebuyers. This is the largest number of potential buyers in the U.S. today.
If you've been thinking about making a move, now is the time to talk through the unique opportunitiea in this market.

Men can get flowers too....

Last Thursday, Freddie Mac announced that their 30-year fixed mortgage rate was over 3% (3.02%) for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the “negative impact” it may have on the housing market. However, we should realize two things:

>>The bump-up in rate should not have surprised anyone. Many had already projected that rates would rise slightly as we proceeded through the year.
>>Freddie Mac’s comments about the rate increase were not alarming: “The rise in mortgage rates over the next couple of months is likely to be more muted in comparison to the last few weeks, and we expect a strong spring sales season.”

A “muted” rise in rates will not sink the real estate market, and most experts agree that it will be “a strong spring sales season.”

Obviously, any buyer would rather mortgage rates not rise at all, as any upward movement increases their monthly mortgage payment. Though 3.02% is not as great as the sub-3% rates we saw over the previous seven weeks, it’s still very close to the all-time low (2.66% in December 2020). And, if we expand our look at mortgage rates to consider the last 50 years, we can see that today’s rate is truly outstanding. Here are the rates over the last five decades:
>>1970s: 8.86%
>>1980s: 12.7%
>>1990s: 8.12%
>>2000s: 6.29%
>>2010s: 4.09%
Being upset that you missed the “best mortgage rate ever” is understandable. However, don’t throw out the baby with the bath water. Buying now still makes more sense than waiting, especially if rates continue to bump up this year. DM me today so you can lock in a great rate while they stay this low.