News → Housing Chill

What the Housing Chill Means for Home Buyers

Calmer Space for Decision Making

11 August 2022
If you want to buy a house in soon, there’s good news: prices are declining for the first time since the pandemic began and the real estate market is normalizing. In fact, the median home price dropped 4 percent across the country from May to June according to the National Association of REALTORS®.
It’s the first time that’s happened since 2010 during these usually robust months for housing purchases. Not only are prices dropping at a record pace, sales are in a freefall too with reduced closings this summer.
If you’re weighing out whether to buy a home now or wait for prices to fall further, it’s important to consider the potentially offsetting influence of higher mortgage rates in the future. With the market expertise of your local Compass agent and our real estate sales services, you can negotiate better terms and lock in a more favorable home price before any further rate increases.

Portia Green, REALTOR®

Portia’s clients all have a similar story. Most likely, you met her huddled around a tablet at the dinner table yet she feels like a friend. Her personable nature and easy going approach attract Sellers and Buyers alike, in what can be a stressful and emotionally charged event. A talented REALTOR® with 15 years experience, Portia is just as excited about real estate today as she was with her first transaction. She remains ever-committed to helping her clients find their place in the world and helping busy people navigate this crazy real estate market like a pro.

Related News

Home Buyers Finally Catch a Break

A combo of rising mortgage rates and sky-high prices is finally dampening demand in the red-hot housing market, showing signs of hope for home buyers.

The Housing Market Is Chilling Out

During the pandemic, home buyers lamented a lack of inventory, which helped push prices to record highs. But all of a sudden, listings are piling up.