Our Market Is Changing—Now What?
Here’s what you need to know about our changing housing market.
“Has the real estate market changed?” I’ve been receiving this question a ton recently. In short, yes—the current market is very different from how it was just a few months ago. Today I want to explain how our market has changed, why, and what it all means for you.
So what’s different about our market? First, houses are staying on the market longer. You used to be able to sell a home over a weekend. However, due to rising interest rates and seasonal changes, demand has slightly slowed down. This isn’t anything to panic about. Demand typically slows during the summer; the last few years have just been crazier than usual.
If you’re looking to sell, these changes mean you need to adjust your perspective. You can still receive top dollar for your home, but it may take a little longer to get there. Be patient, and you’ll be rewarded with an excellent offer.
“This shift isn’t anything to panic about.”
Meanwhile, buyers have more opportunities to look for homes. Inventory is up, so you might not have to compete against multiple offers for a property. However, try to make a move as soon as possible. Interest rates are still rising, so the longer you wait, the more expensive it will be to purchase a home.
If you have questions about today’s topic or anything else related to real estate, please call or email me. I am always willing to help!