Now that there's a shift in the real estate market, you may be wondering if it's still a good time to sell your home. Some people say that the housing market has cooled down and it could be worrisome if you have no idea about what's happening. The truth is, the demand hasn't disappeared, it just slowed down compared to the previous years. If you are thinking about selling your home, here are a few things about today's housing market:
Changes in Buyer Demand
Mortgage rates hit record lows during the pandemic, which led to a huge increase in buyer demand. However, buyer demand pulled back a bit due to several factors, such as inflation. The chart below shows the latest trend from ShowingTime:
Despite the pullback, it still shows that today's numbers are exceeding pre-pandemic housing demand levels:
Take note that the pre-pandemic years are considered great years when it comes to the housing market. Seeing growth from these numbers only proves that there is still demand out there.
Understanding Today's Housing Market
Today's housing market may not be the same as two years ago, but surely, there is still demand. This means that if you are planning to sell your home today, you still have a chance of getting it sold for a good price.
Selling For A Good Price
If you want to make sure that your home is sold for a good price, it would be best to connect with a trusted Realtor® like Kyle Kelly of The Island Wide Team. An expert Realtor® can provide you the steps and proper advice that is fit for the market you are in and apt for your needs.
Call or Text: 631-831-0912
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Disclaimer: Views and information provided in this post are for general informational and educational purposes only and is not a substitute for professional advice. Before taking any action based upon such information, we encourage you to consult with the appropriate professionals. The use or reliance to any information contained on this site or mobile application is solely at your own risk.
