Why is this good for home sellers and home buyers?
If you are an owner occupant selling your primary residence (the home you actually live in), then when you sell you have to find your next place to buy. When inventory is low, this hurts home sellers who want to move but don’t see any options that fit their criteria.
Steve Nicastro, a Managing Editor at Clever Real Estate reported, “Sellers need to be more realistic with pricing, as many still believe we’re in the red-hot COVID market where they could list above fair market value and expect 10-20 showings and multiple offers in the first week. Those outcomes are much less common in today’s market.”*
This lines up with anecdotes in our brokerage: if you want to sell quickly and not sit on the market, price at or below market value and trust the economic process that the market will push the price where it is supposed to be.
If you are looking to buy a home, then talk to your trusted REALTOR early, get connected with the right lender, and have all your ducks in a row so that if/when the perfect home comes to market, you are ready to jump on the opportunity.
There is nothing worse than seeing a home that you have your sights set on, get listed and realizing that you are out of position to submit an offer and get it accepted.
One of our favorite times of year for home buyers to start looking is fall and winter because there are often huge opportunities for a home buyer who is willing to do some house shopping at Thanksgiving and Christmas.
Looking to buy or sell by the end of the year?
Call us today and we will set up a time to chat!
Source*https://www.bhg.com/will-the-housing-market-crash-in-2025-8714021
