With the Fed signaling rate cuts this year, buyers’ advantages might be slipping away. The best discounts are more likely to occur before rates drop significantly. When rates fall more meaningfully, a greater number of buyers will be searching for and purchasing properties and increased competition inevitably puts upward pressure on prices. Additionally, it is common that more buyers enter the market in the spring as most want to move over the summer. As a result of increased competition and lower rates, the window of opportunity could be closing to purchase at the recent low prices. Buyers who want to take advantage of lower prices now could also consider refinancing in the future.
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