Long Beach Island NJ Real Estate Market Buyer Activity Increases Despite Higher Mortgage Rates
LBI Real Estate Buyer Activity Increases 
LBI Real Estate Buyer Activity Increases 
LBI Real Estate Buyer Activity Increases
Long Beach Island Real Estate
Anyone looking to buy or sell a home in the LBI real estate market often has the same question, “Is this a good time to buy or sell?”. Interestingly enough, in spite of higher mortgage rates and the most recent move by the Fed to once again raise interest rates, buyer activity is very strong in the Long Beach Island real estate market.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
LBI Real Estate Buyer Activity Increases
Statistics can be very helpful in evaluating the LBI real estate market and can go a long way to determine if this is the right time to make a move. A look at the data so far in 2023 shows that buyer activity has increased quite a bit. January 2023 and the preceding months saw between 15 and 20 pending monthly sales. Now, in the Spring months, we are seeing closer to 30 pending sales each month. This is a significant increase, especially considering inventory is still so low. To be fair, this activity is lagging behind the number we saw in 2022, but this seems to be attributed to a lack of inventory rather than a cooling of the LBI real estate market. Inventory has continued to drop, and without a sufficient number of homes for sale, one has to expect that the number of pending sales will fall in tandem. The increase in sales is happening with the backdrop of higher mortgage rates, which tend not to have much of an impact on the LBI real estate market, but they certainly can impact the national real estate market. The fact that buyers are still willing to purchase a home on Long Beach Island despite higher rates shows how optimistic homebuyers are about the LBI real estate market.
Long Beach Island NJ Real Estate Market Buyer Activity Increases Despite Higher Mortgage Rates
If you are looking to buy or sell a home in the Long Beach Island real estate market, there is a strong case for both parties. Sellers can benefit from a low inventory environment coupled with high buyer demand. Buyers can benefit from the stability that the LBI real estate market offers in both market appreciation and in the summer rental market. In either case, understanding the real estate sales market on Long Beach Island is the key to making a wise investment and the right move in this changing market. For more information about Long Beach Island or about the LBI real estate market please do not hesitate to contact me.
By : Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
More LBI Real Estate Information:
Rising Mortgage Rates in the LBI NJ Real Estate Market
LBI Real Estate New Home Construction Update May 2023
Buying a Smaller Home in the LBI Real Estate Market
Balancing Your Wants and Needs in the LBI Real Estate Market