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www.InvestNAPA.com

October maintained its subdued performance in the sales market, with supply and demand still heavily influenced by prevailing mortgage rates. Despite a slight drop, these rates continue to hover above the 7% mark. We are expecting to see the beginning of the Fed’s ”slow landing” of interest rates at the end of Q2 2024. Yet, it may still take a considerable amount of time before we witness a significant decline in mortgage rates. In light of these dynamics, we strongly encourage potential buyers to seize the current market conditions that offer greater negotiability and discounts. Buyers should maintain a focus on their long-term goals, recognizing the potential for future refinancing. Industry experts anticipate a busy spring season in 2024, underscoring the importance of getting ahead of the curve now.
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