What does the interest rate drop mean for investors?
Sep 27, 2024
Interest rates are dropping. Yay! But what does that mean for home prices? Interesting article on this here.
More homeowners who held off on moving will be entering the market to sell their homes and look for new ones, meaning more competition for purchasing.
People who had been renting might be moving into the buying game, which could also drive up prices.
As prices rise, renting will remain a more attractive option for those priced out of buying. Especially since the median home price in the US has apparently increased by 50% over the last 5 years, and salaries and wages obviously haven’t kept the same pace.
Read the NPR article on dropping interest rates and the housing market here.
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