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So what is a market shift?
A market shift is generally a change in the activity on the market, and or a change in purchasing power, and or pricing.
Currently we’re obviously dealing in a high inflation period, so the FED has raised interest rates which have affected other costs out there.
One of them being mortgage rates. So you will see mortgage rates have adjusted up but as demand has lessened, mortgage rates are balancing out and/or coming down just a slight bit because we don’t ever want to get to the point where no one is buying because interest rates are not affordable.
So what is happening during a market shift? During a market shift, you can either find that opportunities may be more available to you because the prices are a little bit more flexible or you may find that you may be priced out of a certain category because the lending is being restricted.
Banks are being a little bit more conservative on who they’re lending to and what value they’re lending to someone.
So when you’re in a market shift, you’re going to need to have a specialist and/or an advisor that truly can communicate to you what are the best things to do and what is the best course of action for you and your business.