Are we at the peak of the real estate market? The short answer is no, not yet. 
 
The last time the market peaked, interest rates were in the low 6% range. Lenders would give loans to just about anybody, so we had people who weren’t really qualified to get a loan end up with 100% financing or more on a property they may not have even been living in—they might have been flipping the property. 
 
This caused mass chaos in the marketplace, and affordability dropped all the way down to 9%.  
 
Right now, interest rates are still in the low 4% range. Lending conditions haven’t eased up in the last five to seven years, so the homebuyers who have been approved are strong borrowers with great down payments. The market also continues to increase, and affordability is around 26%. 
 
Historically speaking, when a market has a shift or correction, affordability is around the mid to high teens. 

“Our market still has room to grow, but we’re not sure by how much.”
So, what does this mean to you? 
 
Ultimately, our market still has quite a bit of room to grow, and we’re not sure how much room there is. 
 
Home sellers can cash out on their equity and move into the dream home they’ve always wanted because they finally have the down payment. Homebuyers are locking in low interest rates for the next 15 to 30 years and moving into great communities with long-term growth. Overall, now is still a great time to be in the market. 
 
If you have any questions, please don’t hesitate to give me a call or send me an email. I would be happy to help you!