I am continuously seeing this mistake over and over again and its time that we address it.
Based on statistics, most first time buyers will purchase a home between 500k-800k and even though I know many are following top headlines and news, if you are not in the industry you may be missing some key information that will would most likely impact your decision to buy.
You will notice that all headlines and news are saying prices are falling, which they are, however, what they are not telling you is, which particular segment in the market is continuing to drop?
Is it the higher or lower price bracket that is continuing to drop?
Do higher interest rate impact the lower or higher priced properties the most?
We are seeing the lower pricing brackets holding their prices strong with most places seeing prices go slightly up.
As interest rates continuously kept going up, buyer affordability kept decreasing which created more demand for lower priced properties and in turn helped keep their prices where they are and even push them higher now.