I am pretty sure when shopping for a house most people look at mortgage payment to decide if they are going to get the house or not. Now that interest rates are way up prices of houses must go down to sell. Thus by raising rates the Fed has lowered the cost of houses.

From my research (trying to decide whether to sell our house here and move to AZ).House prices here are holding pretty steady compared to AZ. That's because Houston is much more affordable than most areas in the US. So when people are looking to move here they find prices much more attractive. That being said the interest rate is definitely affecting the market.I do think the days where houses sold in hours with multiple offers are gone. I also think the days where sellers could ask whatever they want no matter the condition of their house are gone. I think a certain amount of patience on the seller's part needs to happen. You just can't expect to sell in 1 day.. The houses that sell pretty quick are the ones that are updated, clean and have a realtor that knows what they're doing- setting the price right ( not just what the seller wants) and doesn't keep reducing repeatedly. I know when I'm looking and see a bunch of reductions I think " what's wrong with this houseNow in AZ there's a big adjustment- prices are dropping like a rock. Some houses I looked at in June are still on the market AND have dropped their prices sometimes by 50-100k!! They were definitely over priced. We had decided not to move but in the last month prices have become much more affordable and we are discussing whether we want to move.

@Labslady : Hope you get to go into the house you love and are comfortable with the price. On the other hand I hate the thought of you leaving us.

@Donnawisdom : Aww thnx! It's a hard decision. Go there to be closer to DD and get DS established because she will be caring for him. Property taxes, house insurance and even water is less expensive. No hurricanes but a lot of HEAT ( it's a dry heat 🤣). Dd moved in June and said it's hot but no humidity except after a dust storm and like here you try to avoid going out in the middle of the day.
Flip side- our house is almost done!! Don't really want to work on another. The cost of moving and dipping into savings to make sure we don't have another mortgage is going to put a dent into retirement. We just can't decide
But I'll always check in here

A friend of mine moved to Northern AZ and loves it there. She has wild horses run across her property all the time.
She lives there in a small house during the summer as her husband has bad asthma. They are moving back here at the end of the month. They were going to live there all the time but couldn't sell their house here and found they kind of like going between the two houses.

@Labslady :
I look at the same thing. Or at least one of the things. We will be moving and we'd like to buy but where is still up in the air.

@Labslady :
Property taxes are much more affordable there too. Just had a relative move to Wickenburg Ranch Az. It's a little right wing conservative enclave and town of its own. Small business and no big box retail…

@MissAmericanPie : AZ does have an income tax though. That could be more than a TX property tax, depending on taxable property values and income levels.

@MissAmericanPie : Sounds like a good place to be and all the small town amenities. Be sure you have good medical services. I do know someone who retired and moved to small town AZ and died on the way to a hospital which was an hour drive...just saying.

I thought this was a thread about turning 60

@Labslady : I think you should look at your age and what your needs might be like in 10 years…when I think about retirement, I want easy to maintain property and yard, lowest possible living expenses, debt free and mortgage free.You don't need millions if you can do that. I'm not opposed to a nice new double wide! 😍

@Donnawisdom : Winner winner chicken dinner.

@Labslady : It's a great time to sell and buy at the same time. It balances out. Just go when you're ready.

@MissAmericanPie : I get that- hard to imagine 10 years from now since we aren't typical 60 somethings (64& 68). This week we tore out 2 floors( lvp & rotten laminate) , cleaned up the mess , Planted and watered gardens, walked the dogs 1+ mile ever day, did the usual cleaning, exercised alternating cardio with weights, continued painting the upstairs, after ensuring the dining room floor was good to go - bought underpayment and new lvp and installed it ( yesterday & today)- did laundry ( me) - hubs installed a ceiling fan and I decided on paint. So tomorrow and Sun- wash down and prep dining room walls, finish trim in Jack and Jill bath tub area, hopefully get some paint done in the dining room. Walk dogs their mile, shop for special needs son and delivery groceries, tend my gardens.So 10 years from now- be able to do the same albeit slower. We really can't get too much of a smaller house because we will be moving our special needs son in with us and we will all need our own spaces. Hoping to get something with a casita or in law suite
I get what you are saying but it's hard to gauge what 10 years will be like ( barring any big injury or terminal illness). Heck I already know people are age and younger moving into areas where all maintenance is done for you and also independent living. We looked into 55+ communities- the HOA is ridiculous- they take care of everything which is nice but the fees ( in AZ) are running 800-1000 per month 😱 I can do my own landscaping and rake rocks for thatJust hard to decide

@Labslady : I guess I'm just saying chose something that will still suit you IF you can't do all that, or just don't want to. Something practical and doable so you don't have another big move to do should illness or injury change your life.