If you’re a homeowner considering selling your home, my guess is you have a lot of questions about what the market is expected to do in the upcoming months. I am here to help!
While it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. But you do need to price your house right for today’s market. Here’s why.
As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR) says:
“Homes priced right are selluing very quickly, but homes priced too high are deterring prospetive buyers”
NAR
The Shift…
Today’s market is undergoing a shift but that doesn’t have to be a negative shift. It is more of a correction. In fact, that means the supply of homes for sale is increasing. For sellers and buyers… this means more available homes! With more inventory, you don’t have to worry about “settling” for a home, you have more options to find exactly what you want.
Existing Home & New Construction
Both home sales and inventory for existing homes and new construction have increased. This again creates more choices and allows you to find the home that best fits your needs. There are pros and cons to both types of homes. The important thing here is that there is enough inventory that you will get more of a choice in this upcoming market (see not a negative at all!)
Bottom Line
While the housing market has cooled from its overheated frenzy, it’s still a sellers’ market. Let’s connect so you understand what’s happening with buyer demand and home prices in our local area as you get ready to enter the market.
