Whether it is a buyers or sellers market – now and in the near future – will be the topic of conversation for anyone buying a new home or selling their current home. The real estate market is an ever-changing landscape that can shift between favoring buyers or sellers at different times. Understanding whether it’s currently a buyers’ market or sellers’ market is crucial for both home buyers and sellers. Let’s dive into the definitions of buyers and sellers markets. Then we will look at some helpful tips for sellers in a buyers market and buyers in a sellers market. Finally let’s discuss important questions to ask your agent in each scenario.
A buyers market in real estate means that you, as the buyer, have lots of choice and the ability to negotiate. And let’s be honest, the last time it was a buyers market…well, we don’t even remember. Is it a buyers market right now? Let’s take a look at the current real estate market to see if buyers should be encouraged.
This month we take a look at the housing market trends for March 2023 and the numbers that swirl around one of the most important sectors in our economy – real estate. Our market updates have, necessarily, focused a lot on mortgage rates, and this month is no different. Federal Reserve Chairman Jerome Powell raised the interest rates on federal funds yet again at the beginning of February, jacking them up another 0.25%. That can have a ripple effect throughout the real estate world by raising the interest rates on mortgages, which doesn’t help anyone – buyers, sellers, real estate agents, or lenders.
As 2023 kicks off, the question many would-be home buyers are asking is will mortgage rates and home prices shift in their favor? So the really important question is when will housing become a buyer’s market? The answer is “now.” if you can be ready to strike while the iron is hot.
The housing market trends for February 2023 indicate that this year is going to be a better year for buyers than the previous year. That wouldn’t be hard. During the pandemic we saw skyrocketing home price increases, bidding wars and offers on houses that seemed hard to believe. We need to calm down a bit and get smart about the real estate market. That is, if, and only if, the interest rates cut us some slack.
Welcome to the Housing Market Trends January 2023 monthly update from Homes for Heroes. Since it’s the beginning of the year, you can probably guess that it’s Prediction Time. Experts love prediction time because…well, they just do. It gives them stuff to talk about when they try to extrapolate the future from what we saw in this last year. And frankly, real estate professionals saw a lot last year.
Welcome to the Housing Market Trends December 2022 monthly update from Homes for Heroes. We report on the U.S. housing market trends every month because of Ferris Bueller. He famously said “Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.” That is more true in the real estate industry than other areas of the economy, so it only makes sense to step back and look around each month.
Welcome to the Housing Market Trends November 2022 monthly update from Homes for Heroes. This report focuses on the residential real estate housing market. We listen to the experts and boil down what they have to say to assist you, our heroes, with decision making regarding buying a home, selling your home, or refinancing your mortgage.
Many people are asking, “when will inflation go down?” Because it really hit the average American household hard over the past year – a trend that will likely continue in the year ahead. However, it has been trending lower each month, edging closer to the Federal Reserve’s two percent target.
Welcome to the Housing Market Trends October 2022 monthly update from Homes for Heroes. This report focuses on the residential real estate housing market. We listen to the experts and boil down what they have to say to assist you, our heroes, with decision making regarding buying a home, selling your home, or refinancing your mortgage.