False sense of urgency in Bronx?

[Michael M.]

I started looking for houses (seriously) in the Bronx about 2 months ago, but always keep an eye on the market.  I am looking for a 3 family, and inventory is insanely low.  My realtor and mortgage guy are suggesting I make a move ASAP, as interest rates are rising and prices are going up and I may soon be priced out altogether.  I have seen a few houses that "work" numberswise, but I am not crazy about the neighborhoods. 

In years past, I have noticed that more houses pop up in the areas that I like in the spring.  However, there are usually more houses available in general.  Would it be safe to assume that I can wait a few more months to see what spring brings, or are rates and prices really moving that fast?  What do you guys think about the Bronx/NYC multifamily market right now?

[Basit Siddiqi]

There is normally an inverse relationship with interest rates and asset prices.
As interest rates rise - asset prices normally decrease

As interest rates fall - asset prices normally increase

While it is true that potentially your buying power would decrease - but home prices should fall allowing you to look at about the same style of houses.

Don't let your agent pressure you into buying a house. Do it when you feel comfortable and the numbers make sense.
They have an incentive to sell more houses.