As the market cools from the peak frenzy it saw during the last two years, many questions remain for sellers, including whether now is the right time to list their homes. Although it’s true that inventory has been increasing, there is still a shortage of homes for sale — which means that conditions continue to favor sellers today.
In a buyer’s market, there are more homes for sale than interested buyers. In a neutral market, inventory is more balanced to meet the needs of buyer demand. In a seller’s market, there are too few homes available for the number of buyers.
Based on these definitions, Ed Pinto, director of the American Enterprise Institute’s Housing Center, gives this explanation of where the market is headed:
“Overall, the best summary is that we’ll move from a gangbuster seller’s market to a modest seller’s market.”
Even though the market is slowing down, today is still the best time to sell if you want to get the best value for your home. It’s true that buyer demand is slowly decreasing, but if your home is priced right, it will likely still sell quickly and for top dollar. For more information on why selling now is a good idea, contact your local real estate specialist today at SurterreProperties.com.
