Wait-Buyer AND Seller Market at the SAME TIME? Heres Why-


How Can It Be??!! You Cant Have Both!  ...or can you?

First, what is the definition of a sellers market?  There are differing views, but some say when inventory of houses on the market is less than 6 months.  Meaning, at the current rate of sales, how much time would the amount of houses take to close that are on the market currently.  6 months!  I cant remember a time when Houston had 6 months of inventory on the market.

Also, disclaimer, this is FOR SURE a sellers market.  Here are the reasons:

  • Inventory Shortage (lowest on record)
  • Inventory down to 1.5 months

So, by all accounts, yes this is a sellers market.

BUT

What is making all these buyers come out and buy houses if they know its a sellers market?  Well, because it is also a very good time to buy a house as well.  Here are those reasons:

  • Lowest mortgage interest rate in history
  • Housing affordability is surprisingly high
  • 2008 financial crisis isnt repeating *see below
  • Inventory shortage creating the demand isnt slowing down

*Is this 2008 all over again?  NO!

  • Lending standards are much more strict
  • Foreclosures that hit in 2008/2009 came on the already depressed market making matters worse
  • Equity-homeowners are NOT underwater like they were in 2008
  • Appreciation-Massive numbers in the last year (10%+)

If you are in the market to make a move with real estate, dont be left on the sidelines.  Its an amazing time to own property, and an amazing time to sell as well!  


If you enjoyed this post, please consider sharing it with others.


Post Category: Housing Market, Home Buying, Home Selling

Local Heights/Greater Heights77008HoustonHarris

Go to Darren Morris Blog Contact Darren Morris

Join the discussion

To post a comment on this blog post, you must be an HAR Account subscriber, or a member of HAR. If you are an HAR Account subscriber or a member of HAR, please click here to login. If you would like to create an HAR Account account, please click here.

Login to Comment
Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
Advertisement

Contact Darren Morris

Please limit to 500 characters.

Request Information
Click to view phone
Advertisement

Blog Archive

  • Archive
    •     2021
    •     2020
    •     2019
    •     2018
Advertisement