The real estate market is experiencing the largest shift since the pandemic started in 2020. But what exactly does that mean? When the federal reserve announced rate hikes earlier this year, their original forecast was to be around 4% by the end of 2022. But we experienced a different number, currently over six percent.

So four to six percent doesn't sound like much of a jump, but if you were buying a $400,000 house a 2% rate hike would cost you about $400 bucks a month.

But it's not all doom and gloom; the silver lining of this market shift is this the brutally competitive situations you've been hearing about for six years are beginning to relax and instead of 10, 20, or 30 offers under your property, you might see a handful. You might see a price reduction to bring buyers back to the table. I've said this for a while now: I welcome a more balanced market.

If agents are pricing homes correctly and marketing their listings as aggressively as they should be, sellers can still get top dollar for their home and leverage that sale into a sensible purchase and avoid the buyer fatigue that we've been seeing the past few years.

If you're thinking of moving right now and you're concerned about high rates, go watch my video about the historical average of interest rates for some info; because they aren't that high, and interest rates are not forever. You can always refinance - don't listen to clickbait headlines.

Don't listen to your uncle at the family gathering, don't listen to your neighbor, or your coworker's opinion on what the market is doing, because they only know what they heard from some random person in a comment section. Listen to your real estate professional.