Although interest rates are high, that’s not stopping homebuyers in Pierce County. Victor Bustos spent his Sunday looking for a potential new home with his daughters. This is his third time buying a home in Pierce County, but Bustos says this time around, he jumped into the market at an interesting time for interest rates.
“We applied for our loan at the beginning of February when it was 5.99%, but after that weekend, we were back in the sevens, so it’s a little like we either take the jump or we don’t,” Bustos said.
Bustos also said he’s seen seven homes so far. According to Regina Madiera-Gordon with RM Home Specialists, that isn’t surprising.
“We just saw a surge of inventory, really starting since last August,” Madiera-Gordon said. “Just so much inventory, and that’s when the interest rates started to go really high, and so the demand really fell off.”
But real estate agent Destiny Daranykone with Windermere Abode Lakewood says high-interest rates don’t seem to be discouraging buyers as much as they used to.
You can read more of the article on the King5 News website.