Will my Home Still Sell in This Market?

The past few years have been a really wild ride for sellers and buyers. During the pandemic, mortgage rates were at record lows, supply shortages compounded already constricted inventory levels, and buyers were buying anything and everything that came on the market. The market has now cooled off a bit and to combat inflation, mortgage rates are up. What does that mean for today's seller? We pride ourselves on providing honest estimations of what our clients should do as buyers and sellers, and we are offering this market analysts to help you make the right decision, for you and your family at this moment. If you would like to discuss your unique case, contact us to strategize further.

SHOWTIME
According to ShowingTime, a showing service scheduler, showings of homes are still well above pre-pandemic levels. We get so much news that can really be sensationalized regarding the housing market. There is still significant demand for homes. The market cooled slightly, but consider that home values increased by more than twenty percent in some areas and this does reach a point where it levels.
Do you NEED to sell or WANT to Sell?
If you have considered selling in the past five years or really need to sell now, it is still a good time. According to a recent survey by Realtor.com 92% of home sellers this summer reported being satisfied with their home selling price and experience. Whether you need to sell or you want to sell, the demand is there for homes. Many millennials are entering the market and what is really important to note is that even when inflation is at a record high, home buying is much safer than continuing to rent.A home is a tangible asset that typically holds or grows in value. In most decades, home prices have outperformed inflation. If you’re thinking about buying a home today, know that history shows homeownership is a good hedge against inflation as the graphic below shows.
Home Ownership as a Hedge Against Inflation
The Key to Selling
The key to selling in a hot market or in a cooler market is having an expert to properly price and market your home. Yes, demand is cooling, but there is sustained demand, especially in The Triangle where we have a strong job market and we also have more employers choosing to invest in the area. Your home is only worth as much as buyers are willing to pay for it, and the professionals who understand what buyers are willing to pay for homes, are local experts. Despite all the talk of a coming recession, it's important to remember that an economic slowdown doesn't equal a housing crises. In 4 of the past 6 recessions housing prices actually increased.
Recession Doesn't Equal a Housing Crises
Local Expert Market Evaluations
To sell your home, you need a Realtor who is an expert on the market conditions of your precise location. Choosing the right realtor is incredibly important because having your home on the market too long will only result in price decreases, and underpricing your home does not benefit you or your neighbors. There are many considerations to home pricing that may not immediately come to mind, which is why we are here to help.
If you are looking to sell your Triangle area home, we can help. Contact us today or click here for a complimentary estimation.
Posted by Larry Tollen on

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