As we step into 2025, interest rates are still playing a major role in the housing market. With rates remaining elevated, buying a home has become more expensive for many, as mortgage costs are higher than they’ve been in recent years. This can make it tougher for first-time buyers or those looking to upgrade. However, it’s still important to remember that rates are not at historic highs, and some buyers are adjusting by considering smaller loans or longer-term fixed-rate mortgages.
For those looking to sell, the current environment means fewer buyers may be actively searching, especially if they’re hesitant about locking in higher mortgage payments. On the flip side, sellers might find that their homes are still in demand, especially in hot markets or for desirable properties.
Bottom line: Whether you’re buying or selling, interest rates should be a key factor in your decision-making process. If you’re considering a move, be sure to consult with a financial advisor to understand how rates will affect your mortgage or sale price! Pinyon Properties is your number one real estate company, serving Boulder City, Henderson, and Las Vegas, NV.
