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September 2015 Market Update

Posted by Christie Gray on Thursday, October 1st, 2015 at 2:06pm.

Here's the September market update, which marks the end of the summer buying season.  Home prices peaked in August, and decreased slightly in September.  Some articles say that home sales boomed this summer due to fear that interest rates may rise, but it is also typical for more homes to change hands during the summer months.  84% of economics surveyed by Bloomberg believe that the interest rates will begin to rise in December.  Home prices are up about 10% over where they were at this time last year, which is why many people are deciding to sell in this market.  With the possibility of higher interest rates looming, you may want to discuss with your lender if now is a good time to buy before the rates jump up.  

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