Market Update: Mid-Year Reflections & What’s Ahead By Desiree Goldman Group

Last year marked our first return to a more "normal" real estate market. While we’re seeing some new inventory come online, much of it doesn’t quite match what today’s buyers are searching for. Many are still holding out, waiting for that long-promised interest rate drop—but what if it never comes?

Does that mean you'll never buy a home? The reality is, today's buyers are either serious and ready to act when the right home comes along, or they’re staying on the sidelines entirely. There aren’t many casual shoppers right now. That puts us in a unique position: low inventory, but not much downward pressure on prices. Instead, we’re seeing more of a market leveling off.

If you bought your home in 2022, selling now might not guarantee a profit—but you may still have options depending on your neighborhood and how your home presents. In particular, we’re noticing some softness in the under-$400K price range, where high interest rates and rising prices have made renting the more affordable option. However, if you know you'll be staying in the area for 4+ years, buying still likely makes long-term financial sense.