Today I’m discussing how current interest rates and the potential increase of those rates could impact the housing market—potentially creating a housing bubble.
Back in that time period between 2008 and 2011, we saw a huge increase in listing inventory across the country, including here in Omaha. We had over 7,000 house on the market during that time at any given point. Right now, we have somewhere just below 2,000 houses available.
What does that mean for a potential seller?
Well, if you were thinking of selling your home, right now would be a great time get it on the market. At the moment, interest rates are still hovering just below 5%. Experts say that by the middle of 2019, those rates could go up to 5.5% or even 6%.
In the ‘08-‘11 recession, we saw that interest rates continued to climb, creating a challenge for buyers purchasing homes and getting approved for loans.
We would love the opportunity to help you find out what your house is worth. If you’re interested in putting your home on the market or would simply like a free, in-home market analysis, don’t hesitate to reach out to us today. Hope to hear from you soon!