Ever since the boom beginning toward the end of the 2020, the real estate market has been a seller’s playground. Many sellers took advantage of this trend, especially through 2021 and 2022, earning record profit, even for houses that some owned only for a year or two. Interest rates were at a significant low, which made it the perfect recipe for both sellers and buyers to partake in the fruits. The general atmosphere of the market is still cut throat, despite competition among buyers calming down some. This pushes buyers into uncomfortable positions and difficult corners. Now that the interest rates have doubled, it also leaves buyers feeling overall like the current real estate market is hindering their plans.
Making plans, breaking plans
It’s been a whirlwind search for our family trying to find a home. We are currently renting, and initially thought we’d be buying this house. But it turns out that just like any seller, our landlord wants to maximize his return on his investment. This choice now excludes us from the ability to buy it. We have to move out by the end of October. So we have very little time to find a place for our family of 11, especially in this volatile market.
When you make plans and you begin the process of seeing them to fruition, it is possible, and most likely, that your plans will at least be stalled, if not broken completely. This applies to buying a house especially right now. We had begun our search late in the end of 2021, and it was an exhausting journey. Between the craziness of the market, and a terrible realtor, we just couldn’t stay on top of the game. Before we could even put in any offers, the houses sold. Our plans broke time and again, which discouraged us every time. Now, the market has broken our plans once more.
The real estate market hinders plans
If the real estate market is hindering your plans, you aren’t alone! If we’ve learned anything from the last three years, none of us are lone in our struggle through life. This was especially true during the Covid lock downs, though I know it felt otherwise. This real estate business is just one of many through which a large percent of Americans can feel some camaraderie. Don’t give up if you’ve had plans to buy a house while the market has been especially difficult to tame. If you have the time to stick it out, be patient! A great path for a Christian is to pray for guidance. Don’t forget that God knows exactly where you will live.