top of page

What Are My Options as a Buyer?

How do we navigate the challenge of continuing competition for homes with rising interest rates? This is the most common client question we receive today. Many think the increase in mortgage rates has led to a real estate market with little or no competition. Unfortunately, with low housing inventory that is not the case. Below is a brief summary of the two main options home buyers have in the current real estate market.

Option 1: Buy now with higher mortgage rates

Risk: Rates go down or it’s difficult to get an accepted offer

What Can You Do? If rates decrease in the future, you can re-finance at a lower rate. Work with a Realtor who has experience dealing with competitive situations & getting clients accepted offers. Our team gets accepted offers at a rate 6x the market average.

Option 2: Wait for mortgage rates to decrease

Risk: Rates continue to rise or rates decrease slightly but inventory stays the same.

What Can You Do? Understand that inventory in today’s market drives sales prices more than rates and that “timing the market" cannot be done with any type of certainty.

Bottom Line

Low inventory affects market prices more than rising interest rates. Unless there is a projected major influx of inventory there is no reason to believe home prices will flatten or decrease. Supply shortages continue to make new construction more expensive and the lack of buildable land in MA (especially within the I-495 loop) restricts the amount of new home inventory coming to market. As we said in our last two annual reports, if you are an interested buyer, it is better to pursue a home now rather than hope prices go down in the future.

Photo Note: Our team recently sold a classic colonial restoration with wall-to-wall bench seating and refurbished built-ins. There was heavy competition for the home as many buyers remained active in the market, even with increased rates.

8 views0 comments

Recent Posts

See All


bottom of page