Earlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index
Pace Change In The Market
Dated: August 9 2018
I know what you’re thinking… the market is starting to slow down. I mean, isn’t that what you have been reading and what Realtor’s ® are talking about? The market slowing down? Bubble bursting?
The good news is this won’t happen. The market is slowing down but that does not mean the market is not going up. Over the last several months our market has been heavily influenced by the seller’s, creating a seller’s market. Slowing the pace a bit means the market will not be smoking hot for sellers.
We’ve enjoyed a ruthless seller’s market over the last 8 months… little inventory, huge demand. Seller’s able to name their own price and buyer’s doing anything they can to secure these properties. We will see this cool down a bit but prices will continue to rise.
Home inventory is up about 1,000 homes which is awesome and great news for buyers.
We will start returning back to a more even/normal market but it is still a seller’s market. Sellers will have a bit more competition when listing their home because buyer’s will have more homes to choose from which is good for them.
If you’re a seller and wondering when you should jump in… Now is the time. The market isn’t crumbling, it just means inventory is coming back and buyers have more to choose from.
Sellers don’t freak out. Buyers be happy.
Daryl Hanna and The Hanna Group are committed to bringing the respect back to the real estate profession through making sure each and every transaction is handled with the utmost care & respect!! The ....
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