Monthly Spotlight - January 2023
Happy New Year from Patterson-Schwartz Real Estate! A review of 2022 shows a tale of two markets, as talks of rising interest rates and inflation stole the headlines for much of the year.
We began 2022 with 30-year mortgage rates just above 3%. Rates peaked around 7% in early November, and ended the year at 6.5%. There's optimism that rates will return to the mid-5%'s later this year.
Markets go up, and markets make adjustments. But in the midst of an ever-changing real estate landscape, this quote from Ray Brown always holds true: "The best time to buy a house is always five years ago!"
We're grateful you've put your trust in Patterson-Schwartz. We're optimistic about the year ahead, and we look forward to serving you in 2023 and beyond.
Take a look at our year-end local market summaries and let's connect to discuss how the trends impact your real estate plans in the days ahead. We’ve also included some timely home and lifestyle-related articles and video to keep you informed on the latest in everything from personal finance advice to home decor trends.
A Local Perspective
The housing activity for 2022 compared 2021
How to Retain Your Home's Value
A house can depreciate, or lose value, for a variety of reasons. Here are some things to consider.
Thinking about Selling or Buying?
We will be happy to connect you with a Sales Associate to learn more about the home selling or home buying process and the steps to take for a successful home transaction in today's market. Contact our Customer Care Center at 302-234-5270 or 877-456-4663 now.I’d Like to Sell I’d Like to Buy