Mortgage Rates Are Finally Improving – Here’s What It Means for You

If you’ve been sitting on the sidelines waiting for a better time to buy or sell a home—this might be your moment.Mortgage rates are starting to trend downward, and as expected, the real estate market is picking up steam. With more listings hitting the market and buyer activity increasing, Whatcom County’s market is heading into spring with momentum.

What’s Happening in the Market?

📈 More Homes Hitting the Market

• Residential listings are up 25.2% year-over-year—meaning buyers finally have more options to choose from.
• Condo inventory nearly doubled (+93.9%) as more sellers are jumping in.

📊 Prices Are Holding Strong

• The median sales price for homes rose to $639,000 (+6.5%), showing that demand is still high.
• Condo prices also saw a 10% year-over-year increase, despite rising inventory.

💰 Buyers Are Making Moves

• Pending sales are up 6.4% for homes, showing that buyers are gaining confidence and getting back in the game.
• Closed sales also increased 4%, proving that homes are moving as long as they’re priced right.

🏡 What Does This Mean for You?

🔹 Buyers: The Window of Opportunity is Here
With mortgage rates finally trending down, waiting for a “better deal” may not be the smartest move. As rates drop, competition will heat up again. If you can afford today’s payment, locking in a home now could save you from higher prices later.

🔹 Sellers: More Buyers Are Entering the Market
Higher inventory means more competition among sellers, but strong demand and rising prices prove there are plenty of buyers ready to make a move. If you're thinking of selling, pricing correctly from the start is key to standing out in this shifting market.

Bottom Line? Act Before the Spring Rush

Mortgage rates are moving in the right direction, and the market is responding. Whether you’re thinking of buying or selling, now is the time to start planning before the market heats up even more.

📲 Thinking about making a move? Let’s chat! Call/Text me at 360-220-7523 and let’s create a strategy that works for you.

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