If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months. WHILE IT'S STILL A SELLERS' MARKET, THE PEAK FRENZY THE MARKET SAW POVER THE PAST TWO YEARS HAS DEFINITELY COOLED DOWN A BIT.
THE GOOD NEWS IS - YOU STILL HAVEN'T MISSED YOUR CHANCE - 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 selling very quickly, but homes priced too high are deterring prospective buyers.”
It’s true buyer demand has slowed over the past few months as higher mortgage rates made it more expensive to buy a home. The result is fewer bidding wars and less competition among buyers.
While this is a slower pace than even one month ago, serious buyers are still actively in the market, and they’re buying homes that are priced right. In fact, the Confidence Index also notes the average home is selling in just 14 days.
If you’re aiming to sell your home or condo, be sure you’re working with your agent to price it for today’s housing market. As buyer demand softens, it’s important to understand this isn’t the same market as last year. It’s not even the same market as just a few months ago. And I HAVE THE RESOURCES AND EXPERIENCE TO HELP YOU PRICE YOUR PROPERTY AND PROPERLY MARKET IT so it SELLS FAST and at a fair price.
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.
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