You’ve probably heard that our market is changing, so today I’d like to share three specific developments that best represent what’s happening now.
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The market is undergoing a few key changes right now, and I’d like to highlight three of the most important developments for you today.
First, we’re still in a seller’s market, but things are slowing down. The market has favored sellers since February of 2012—when conditions hit rock bottom. We’ve been recovering ever since, and now, things are starting to slow down. So if you’ve been thinking of putting your home on the market, don’t wait. We’ll only know when the market has hit its peak once that time has passed, so don’t delay.
Another relevant indicator of where our market’s headed is the recent influx of foreclosures. Though there haven’t been many foreclosures in the last year, this is beginning to change. Buyers looking for a good deal are now more likely to find one in this subset of distressed inventory.
Our market is changing, but these developments will be gradual.
The third development I’d like to touch on is actually something that has been true of our market for some time now—interest rates are still good. Don’t let rising rates scare you away. Current interest rates are still historically low.
The bottom line is this: Our market is changing, but these developments will be gradual. We certainly won’t see a repeat of the 2007 market crash. It’s still a great time for buyers and sellers to make their move.
If you have any other questions, would like more information, or would like to talk about how my team and I can help you make the most of today’s market, please give us a call or send us an email. We look forward to hearing from you soon.