What Our Shifting Market Means for Buyers and Sellers

You’ve probably heard that we’re still in a great seller’s market, but in reality, things are starting to shift toward more of a buyer’s market.

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If you’ve been watching the news lately, you’ve probably heard that the market is going through the roof—prices are skyrocketing, homes are getting multiple offers, there are a lot more buyers out there than there are homes available, etc.

In reality, though, our market is starting to shift. The market is seasonal, and things tend to slow down a little bit as we get into the latter part of the year, but there were only half as many showings last month as there were during the same time last year. This means there are fewer buyers out there shopping for homes, and we’re seeing more and more sellers reduce their home’s price in order to get it sold.

“We are starting to see more of a buyer’s market.”

They say that the market undergoes a correction every seven to 10 years. As you know, 2008 was when the market reached its peak and then took a nosedive. Now that we’re a decade removed from that time, we hope we won’t see anything as drastic happen again, but we are starting to see more of a buyer’s market.

This means if you’ve thought about selling your home, you’ll want to see what it’s worth in today’s market and estimate how long it would take to sell.

I’d be happy to help you with this process, so if you’d like to get started on your home sale or you have any other real estate questions, don’t hesitate to give me a call or shoot me an email. I look forward to speaking to you.