Todays Market In My Opinion

Todays market

I'm happy to report that things are still looking good. Were still in a sellers market, but inventory is starting to become more plentiful. This means its easier for buyers to find properties they want and negotiate with sellers on price or possibly even closing costs help . However, people have lost buying power in the last month, (ya know, back in the day)we're seeing less people bidding on homes now than we were before (because there are fewer buyers). This means that although prices might be going down slightly, theres still that challenge of getting over that interest rate.

Inventory is still tight

Admittedly, the news isnt all that great. Inventory is still tight and home prices are still high, with new listings coming on the market at a snails pace. But if youre looking for a silver lining in this dark cloud of doom and gloom, consider this: inventory is lower than it was in the last few years! In fact, its lower than it ever has been.

Balanced market

A balanced market is one where the price of a good or service is neither too high nor too low. In other words, its neither overpriced nor underpriced. A balanced market is healthy and not in danger of becoming a bubble.

So what does this mean if you want to buy real estate? Well, it means that most owners are selling at reasonable prices. If you want an investment that will give you a reliable return on your money without taking any big risks, then investing in real estate may be for you!

Rates are still low

Interest rates are still moderate. While the Federal Reserve has raised interest rates three times over the past year, those increases have been smallin fact, its been so slow that some economists think were in a new normal of low interest rates.

And yet, there is serious concern that interest rates will rise significantly in the near future. If they do, there will be big implications on your wallet and your borrowing power. So lets take a look at what current rates mean for you todayand how much higher they could go if things change dramatically.

Some buyers are price sensitive

Some buyers are price sensitive. These buyers will not pay more than 250,000 for a home. They also dont want to pay more than 150,000. If you have a home in that range, cool! Put it on the market and get it sold quickly. Everyone wants to buy cheap these days because of how serious the housing market was (and still is).

If you want to sell your house but dont know if anyone will buy it at your asking price or below:

• Put yourself in their shoes and ask yourself what you would be willing to pay within that range

• Get an independent opinion from a professional realtor who doesnt work for the seller (I recommend this!)

Increased competition for homes under 250,000

In a market that currently favors the seller, its easy to see why sellers would be hesitant to budge on their price. The reason sellers have such an advantage right now is simple: supply and demand are out of whack because there are still more buyers than there are homes available depending on your market.

That said, there are still buyers out there who want homes under 250,000 and theyre willing to pay more if they find something they like within their budgetas long as it meets their other criteria too! As always though...be sure you have some options before making any moves!

People have lost buying power in the last month.

People have lost buying power in the last month. Prices have fluctuated, interest rates have gone up and buyers have lost money in the last few months. Buyers are still buying, but not as much as they were before. They are looking for a better deal.

Conclusion

So, there you have it. The market today is a little like Goldilocks porridge: not too hot and not too cold, but just right. We hope this post has helped inform your housing search and we look forward to helping every family find their own version of that perfect home! #thismyhouse