Beaufort Area Real Estate Market Update - December 2021
With the U.S. economy booming and with inflation at its highest level in nearly 40 years, the Federal Reserve recently announced the accelerated tapering of their bond purchasing program, now set to end March 2022. A series of hikes in the federal funds rate will likely follow. Economists expect the cumulative effects of these efforts will move mortgage interest rates higher through the end of 2022. Although still low by historical standards, an increase in interest rates may serve to soften buyer demand somewhat as affordability becomes a more influential factor in home purchases.
For the 12-month period spanning January 2021 through December 2021, pending sales in the Beaufort region were up…
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