Being in the real estate business close to 30 years, I have seen many shifts in the market and have always coached my clients to what opportunities are out there. Never fear even when there is limited inventory, a shift will only occur in certain price points.
Why is this important? Let me share with you an example: When looking at a market to sell in, if your price point is $300,000 or below there is a higher demand, so your sales price to sell will be higher and your home will sell fast – in some cases multiple offers will appear. When you go to buy, you are in a different market, where days on market are double digits, and there is sometimes negotiating room with the home you are buying. This allows you to have a WIN – WIN in real estate.
Even real estate articles can make it feel that it is a one fit for all and that is why people can fear selling because they are afraid they won’t find a home to move into.
With the release of the latest Economic Pulse Flash Survey from the National Association of Realtors (NAR), results show that people selling their houses today are holding strong on price. According to the most recent data, 74% of real estate agents noted that sellers are not dropping listing prices to attract more buyers.
Lawrence Yun, Chief Economist at NAR, noted:
“The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, home sellers are taking a calm approach and appear unwilling to lower prices to attract buyers during the temporary disruptions to the economy.”
Now is the time to discuss your real estate goals and put a plan in place to accomplish them with a timeline that works for you. Call ME! (877) ANNETTE and I will share with you all of my strategic plans that I have designed that have been proven throughout the years and have allowed me to move families each year no matter the economic climate.
You too can have a WIN – WIN in real estate!
Annette Compo, Real Estate Broker | Keller WIlliams Advantage