The Fed raised interest rates by .075% for the fourth time this year.   Here is the good news and bad news.  The bad news is that for every 1% rise in rates, home values drop 10%.  If you own a $700k home it is now worth $630,000, a $70,000 reduction. 

The good news is home values take ninety days to respond to interest rates.   You have yet to lose $70k. 

If you are not planning on living in your house for the next four to six years, consider listing your home this Fall and Winter.  Capitalize on higher values before the window of opportunity shuts.

Our monthly market update showcases everything you need to know about local real estate trends over the last month.