Will My House Still Sell in Today’s Market?
Here's what you need to know if recent stories about the home market cooling and buyer demand decreasing have you scared you've missed your chance to sell. The buyer demand is still there; it has just slowed down from the peak intensity it reached over the previous two years.
Buyer Demand Then and Now
Mortgage rates reached record lows throughout the epidemic, which significantly increased buyer demand. Buyer demand retreated or slowed this year as rates rose as a result of things like growing inflation.
What That Means for You When You Sell
Understanding the current state of the home market is essential for selling in a dynamic environment. Although the market is not what it was last year or even earlier this year, the possibility to sell still exists.
Despite a slight cooling in the market, it's still a sellers' market. The demand is still there, so if you consult with a reliable local expert to set your home's price at the going rate, it should sell soon. In a recent poll conducted by realtor.com, 92% of homeowners who sold their homes in August said they were happy with the results.
The buyer desire is still there; it has just slowed down this year. If you're prepared to sell your home right now, rely on a reputable real estate agent to help you understand how the market has changed and how to adjust your selling strategy accordingly.
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