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Monday Market Update: 3 Reads For Every Potential Seller
Fall in real estate: what is it like?!
Fall in real estate: what is it like?! We get this question a LOT. While the seasonality of real estate has long been a hot topic, we have long been proponents of the ‘right time to sell' is when the time is right for you (it does not have to be spring or summer!). Traditionally, fall is a time when the comforts of home are very much top of mind, when serious buyers are STILL out looking after an oft-heated summer frenzy, and a window when there is less competition from other homes on the market.
If you are a current homeowner and thinking about selling this season or even next year, here are 3 articles with information we believe you will find useful. As always, feel free to reach out at any time for perspective particularly applicable to your personal situation and micro market.
How Does the Housing Market Look Heading Into Fall | Yahoo! Finance
This 5-minute read offers a helpful overview of where the market has been in 2021 and where we are headed. Major themes include home price stabilization, slightly longer days on market and fewer properties sold sight unseen. Note the market is still considered ‘hot’ but the good news is ‘… insanity has subsided a bit.’
Let me start off by saying we rarely share data that is intended to scare you. But we do always try to educate and empower and that is what this read is about. When buyers feel like they have to do anything to be that winning offer, there are always potential repercussions for the seller. This is a good read on what could happen when buyers waive inspections, when the sales price far exceeds the appraisal and more.
Inventories Pushing Buyers Toward New Homes | Mortgage News Daily
New home sales are almost 10% higher year-over-year – but the reason may surprise you. If you think buyers don’t want existing homes – think again – they just can’t find them! Mortgage Bankers Association Vice President Joel Kan declared last week that ‘…prospective buyers are increasingly turning to new homes because of the very low levels of existing homes for sale…’. The bottom line: existing homes wanted & needed.
Bobbi Decker
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