A seller's market occurs when demand exceeds supply, or there are more. you could secure a sale price that's higher than your listing price, or at least more. potential buyers need to keep renting until they can save up a higher down. One way to determine if it's a buyer's market or a seller's market is to look at inventory,
Asset prices and interest rates are negatively correlated when interest rates decline as well as increase. Higher interest rates –> lower asset prices. The 30 year mortgage rate is 4.88% now, it will be closer to 5.5-5.75% by next year’s home shopping season if the Fed continues on this path. Look out below!
Dramatic Changes in the Sacramento Housing Market Just as we have been reporting we have seen a dramatic change in the last few months in terms of available buyers due to higher inventory, increased interest rates, and extremely reduced investor activity.
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· Declining housing stock puts homebuyers in a bind. The national supply of homes for sale hasn’t been this thin in nearly 20 years. Grand Rapids is among loss leaders.
· 10 trends defining the construction industry. tight home inventory (especially for starter homes) and rising home prices are creating a seller’s.
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Home sellers this season are taking a more grounded approach to. pricing in the middle range to better encourage multiple offers,” said Will. A chronically low inventory of properties for sale has created a housing logjam.
Don’t just take their word for it. There are plenty of websites that offer up free home price projections, including the usual suspects like Zillow and Redfin, along with state Realtor groups, NAR, and private companies like CoreLogic and First American. Pay attention to the news, but also keep an eye on comparable sales in your neighborhood.