Is the McAllen Real Estate Market Favoring Buyers or Sellers?

In our current market, inventory is low and so are the interest rates. This is good news for both buyers and sellers.
As a real estate agent, one question I get asked all the time is, “Are we in a buyer’s or seller’s market?”

With inventory being so low and seller’s almost always getting asking price, I’d say we’re in a really good seller’s market. As we look toward the future, I see home values increasing in our area and experiencing their fair share of multiple offer situations and bidding wars. That’s a great sign that our market is still going strong.

Our market is still going strong.
Another question I get asked a lot is, “What do interest rates look like?”

Right now, interest rates are at record lows. When I got my real estate license back in 2005, we were looking at 6% and 7% rates, which I thought was awesome. In today’s market, our rates are hovering around 4%.

What does all this mean for both buyers and sellers? If you’re a buyer, you can secure a purchase with a very low interest rate. If you’re a seller, it’s the perfect time to get the highest possible price for your property.

If you’re thinking about buying or selling real estate, please don’t hesitate to give me a call or send me an email for a free consultation. I look forward to helping you!