As the summer starts to come to a close, I want to check in with you about the perspective of the fall market. Every day I get calls from people asking if the seller’s market is coming to an end, and to be honest, I don’t know the answer to this.
What I can tell you, though, is that home sales are starting to slow down. When home sales start to slow down and inventory grows, we know that the increased pricing will start to taper off.
Also, current home prices are similar to what they were nearly 10 years ago. This is not sustainable because incomes and other economic factors don’t support it. We live in a strong economic environment where we expect home prices to be stable. However, if inventory starts to grow, it will add some pressure, possible moving us from a seller’s market into a balanced market.
Quite frankly, a balanced market is a great place for everybody to be. Sellers don’t feel that they leave money on the table and buyers don’t feel pressure to pay, or overpay, for homes.
If you are interested in selling your home this fall, give us a call. We would be happy to review it and its updates to give you the most accurate value for your home. And, if you are interested in buying, please feel free to contact as well. We would be happy to speak with you.