Home Inventory in Hamilton County, Indiana Expected to Increase, But Still Not Enough for Buyers
According to Managing Broker of Sky Range Realty, Mudassar Ather, the 2023 real estate market in Hamilton County, which includes Fishers, Carmel, Noblesville, and Westfield, is expected to be favorable for both buyers and sellers. While the market is still a seller's market, homebuyers can still expect to negotiate better deals than in the past year.
Despite the low housing inventory, Ather believes that home prices will increase at a more normal rate of 3%, rather than the rapid increase seen in the past two years. Homes may still sell close to their listing price, but buyers may have more opportunities to negotiate deals than in previous years.
Additionally, interest rates are expected to tick down to the mid-5% range, making it a good time for buyers to make a purchase. According to Bart Colwell, the president of The Hometown Savings Bank, the yield curve is currently inverted, indicating that interest rates will be higher in the short term. However, mortgage rates follow the 10-year treasury rate more closely than the short-term fed fund rate, which means that mortgage rates could still decrease even if the fed fund rate does not.
In addition to the positive outlook for the 2023 real estate market in Hamilton County, Sky Range Realty's Managing Broker, Mudassar Ather, has some insights for homebuyers and sellers in the luxury and residential real estate market.
According to Ather, Sky Range Realty has been seeing an increase in demand for luxury properties in Hamilton County, particularly in areas like Fishers, Carmel, Noblesville, and Westfield. As a result, they have been actively expanding their portfolio of luxury properties to meet the growing demand.
Moreover, Ather stresses the importance of working with a real estate brokerage that has a deep understanding of the local market. Sky Range Realty's team of experienced and knowledgeable real estate professionals have been helping clients navigate the Hamilton County market for years, providing expert guidance and advice throughout the buying and selling process.
Whether you are a first-time homebuyer or a seasoned investor, Sky Range Realty can provide the expertise you need to make the most of the current real estate market. Contact them today to learn more about their luxury and residential real estate services in Hamilton County and beyond.
Published on 2023-02-15 03:03:44