For the last couple years, it has been a tough time to be a home buyer. The market was in a feeding-frenzy with house listings receiving several offers in the first few days. More often than not, those houses were selling for well over their asking price. Thankfully, that frenzy now seems to have gone away.
I think that over the next few months the market is going to get back to being a more balanced market with a much more civilized home buying process. Providing that inventory continues to increase, as we’ve seen it do over the last few months then prices will likely flatten out. The Statistics still show us to be in a Sellers Market with currently just over one month’s worth of inventory available. However, there are not as many home buyers out there as there were and homes are taking longer to sell. The market is shifting…
Listing agents who have had it really easy over the last couple of years will have to get used to working again for a living and upping their game from a marketing standpoint.
Renters if you can get yourself into buying somewhere, you’ll very likely be much better off buying than by renting. The market prices may dip a bit before they launch forward again, but that time is usually fairly short and typically ends before most people realize it. So, if you’re on the fence, the time to act is now or at least pretty soon.
