Here’s What’s Happening in the Market
Here’s my latest update on the shifting trends we’re seeing in the market.
Recently, an article came out comparing June inventory levels to July levels across the U.S. They also looked at individual states to see if inventory was still very low or if we were starting to see an increase in the number of homes available.
In a majority of states, inventory levels have indeed started to increase, which is great news for buyers. More homes staying on the market for a little bit longer will give them extra time to find a home, and their competition will be somewhat reduced. Further, interest rates are still low, which means that homes are more affordable.
“Though I don’t foresee that homes will stop appreciating, it looks as though appreciation will begin to slow down.”
However, sellers don't need to worry—we’re still firmly in a seller’s market. Although, if you’re a seller, don’t get too greedy when it comes to getting top dollar for your home. Though I don’t foresee that homes will stop appreciating, it looks as though appreciation will begin to slow down.
If you’re thinking of buying or selling a home or you have further questions about the market, don’t hesitate to reach out to me. I’d love to help you.