Fresno Real Estate Market On The Rise This Winter
Typically the real estate market sees a slowdown during the winter months, not just in Fresno but nationwide. This year however, that hasn’t been the case. Many Fresno Realtors have been reporting that they are seeing more business this November and December than this time last year.
Rising Confidence in Real Estate Market Stability
Not only are more homes selling than this time last year, but average prices have risen as well. It’s difficult to say what exactly the reason is for this unusually busy winter. Many Fresno real estate agents feel that buyers are regaining confidence in the status of not just the real estate market, but the economy in general.
Federal Reserve Meeting – Possible Increase in Interest Rates
Another possible explanation for this upswing is the fact that the Federal Reserve will be meeting this week. Rumors have been circulating that one of the results of this meeting will be the first increase in short-term interest rates since 2006. Even a small increase in interest rates could have serious repercussions on a 30-year mortgage, potentially adding thousands to the overall amount paid. This has been motivating buyers to lock in rates before any changes are made.