The market is shifting from a seller’s market to a more balanced market.
I was recently asked whether we’re starting to see a shift from the robust seller’s market we’ve experienced to a balanced market. The market is beginning to change. Price adjustments and longer days on market are signs that we’re shifting from a seller’s market to a more balanced market. That means the market will become less competitive for buyers, and there won’t be bidding wars on every home.
After the pandemic began and interest rates plummeted, a lot of people decided they wanted to buy a home. Many of them were competing for specific areas. Now, people are starting to spread out, so demand won’t be so concentrated. Buyers should be able to make offers without waiving contingencies or using other strategies to stand out and there will be more options available. In today’s shifting market, buyers can now feel more confident that the home they want is the one they’ll be able to win.
If you’ve been sitting on the sidelines for a while or you’ve felt burnt out by the current market, reach out to us and let us show you what’s really going on in our local market. We can set you up for success so that you can win your dream house. We look forward to hearing from you.