Key Takeaways:
- Debates reign about residential real estate in the fall—it is currently uncertain if the established trends will come through as reliable as usual.
- There are certainly reasons you should continue in your journey toward buying or selling your home, like the current low mortgage rates and the amount of available houses.
- Linda Craft & Team can help you make sense of how buying and selling a house in this confusing market should work—just get in touch!
The Real Estate Industry Is Changing
Meticulous research over the past few decades has established that, most often, active monthly listings (put simply, the number of available houses) peak in the fall. Of course, nothing this year has been as normal as anyone would have liked, and that might go for residential real estate trends as well.
Will the number of homes available fall again after this season? Let’s look at what the forecasters are saying.
What the trends are saying now about available houses
Data accumulated by Realtor.com indicates that, importantly, the latest active monthly listings do show growth over the past few months. At least buyers can be reassured that there are more options for home-buying than there were earlier this year. This is certainly good after the stagnancy in available housing at this time a year ago!
The future is never certain. Realtor.com’s Chief Economist warns that right now, the market is more competitive than it has been at this time in previous years—that’s good for the market, but it means buyers might have to work a bit harder to find the perfect home.
Good news for buyers and sellers alike
In spite of the competition, there are plenty of great reasons to consider buying a house now! To look on the bright side, if the number of houses available does end up falling in the future, at least buyers will still have more than they had last year, or earlier this year. And if you start your buying process now rather than waiting, you may be able to get a lower mortgage rate!
As for sellers, the amount of houses available is still lower than it has been at this time in the past, and the demand is high. It’s the perfect time to put your house on the market! If you wait, you may end up having to compete with more and more homes put on the market, and you’ll have less of a chance of selling yours. Ensure your home sells fast and for the right price by working with us!
Ready to Get Started?
Whether you are a seller or a buyer, you can rely on Linda Craft & Team to be here for you. We’ll help you negotiate that initial offer, search for the best house that meets your needs, and write up those contract contingencies. Call 919-235-0007 for more information or to get answers to any questions you have!