December 2018 Washtenaw Co. Housing Report

With both inventories and interest rates rising while the economy and home prices are cooling, the market has been shifting toward a less favorable position for sellers. Typically, a shift away from sellers is good for buyers. But any buyer gains are being offset by higher interest rates which increasingly limit the properties buyers can afford.

Rising interest rates are the primary factor that will make future markets less favorable for both buyers and sellers. As forecasts call for continued rate increases, both buyers and sellers who are looking to move in the foreseeable future would be wise to act sooner rather than waiting.