Given the state of the market, should you jump into the fray?
Today I’m talking about whether buyers and sellers should get involved in today’s real estate market.
Nationally, the real estate market is undergoing a strong recovery. There are many buyers jumping into the market and looking for homes. However, there is extremely low inventory and prices are rising. Locally, we have less than one month of inventory on the market. Houses are selling in under five days and there’s been a significant jump in prices since the beginning of the year.
How long is this going to last? We can’t say for sure. We’re entering the summer market and typically we have a strong summer market that isn’t as quick or hectic as the spring market. The market is a bit slower right now, but I’m still seeing properties getting multiple offers and buyers needing to be very aggressive to have their offers stand out.
“If you can compete in today’s market, I recommend jumping in.”
I’ve never seen a seller’s market like this one. If you’re interested in selling your home, now is the time. For buyers, this is a very difficult market to navigate. It’s possible that we’ll start to see interest rates rise, given the reports on inflationary pressure. Although, right now, interest rates are still amazingly low. If you can compete in today’s market, I recommend jumping in.
Whether you’re a buyer or a seller in today’s market, you should work with your Realtor to put a plan in place so you can achieve your goals. At Real Estate Experts, we’ve partnered with Compass and have advanced tools and systems to help you achieve your goals. Reach out to us so we can explain how we can help you. We look forward to hearing from you.