While buyers and sellers grapple with interest rate volatility in the real estate market, many are looking to pricing as a primary means of market stabilization. As Lisa Lippman—the top-producing Broker at Brown Harris Stevens—said in a recent Globe Street article, now is the time for sellers to be flexible with their pricing.
“Whenever buyers and sellers don’t agree on prices, nothing happens, and the market is at a standstill. Sellers should look at the market through the eyes of a buyer; if rates go up even one point, pricing must be reflective. Cash buyers will expect a discount as well as they do not want to pay more than someone seeking a mortgage.” - Lisa Lippman, Brown Harris Stevens Broker
Lippman added that, based on her experience, interest rates are not as bad as buyers might be perceiving them to be, with many of her clients seeing rates "in the high 4s to low 5s.”