It has been quite the whirlwind of a real estate market over the last few years here in Chattanooga, TN. We hit all time lows with interest rates as well as all time highs with home value increases. Homes were selling in less than 24 hours and with little to no contingencies. Throughout 2022 and 2023, we started to see that change a bit as the interest rates began to increase which changed a lot of people’s buying power. It has been all over the news and social media lately that interest rates are expected to drop in 2024 which would mean a lower mortgage payment for buyers. While you may be saying to yourself, “I’ll wait to buy a home when the interest rates drop,” we’re here to discuss why that may not be in your best interest. While we can’t…
