3 Myths About Today's Real Estate Market

Are you eager to make a move or purchase a new home this fall, but the naysayers have you feeling uncertain? It's time to put those tired old rumors to rest and approach October with confidence. Let's debunk some common myths about the current real estate market in Atlanta.

Myth #1: Owners Have Low Rates and Will Never Sell.

Fact: While it's true that many homeowners secured low-interest rates several years ago, life is full of changes, and people will always have reasons to sell their homes. Families expand, empty nesters seek to downsize, individuals relocate for various reasons, and retirement plans evolve. Many of these homeowners are looking to sell their properties, creating opportunities for buyers.

Myth #2: As Rates Rise, Prices Will Drop.

Fact: While we might hope that rising interest rates would lead to softer home prices, there's another significant factor at play: limited inventory. The high demand for homes coupled with a scarcity of supply keeps prices competitive. So, don't expect prices to drop significantly just because interest rates are on the rise.

Myth #3: The Housing Market Will Crash Like in 2008.

Fact: The 2008 housing crash was primarily fueled by faulty mortgages and buyers taking on more than they could afford. Fortunately, the real estate landscape has undergone substantial changes since then. Lenders today are much more stringent in their lending practices, ensuring that borrowers are financially stable. Moreover, the average homeowner now holds more than $274,000 in equity, providing them with financial security when making a purchase. We're in a different era, my friends!

Housing market myths may come and go, but finding a home that meets your family's needs when you need it is truly priceless. If you're ready to explore your options and take the next steps toward homeownership in Atlanta, don't hesitate to reach out.  We strive to be your go to resource for all things real estate! 🏡🍁🌟