A lot has changed since September of last year, but one thing remains the same: it's still a seller's market! Despite the pandemic, a rise of interest rates, and inflation throughout the country, home prices have dropped slightly. There are still more buyers than there are homes for sale. If you're thinking of selling your home, now is a great time to do it.
Buyer demand has moderated and housing supply has risen in recent weeks, it is still a sellers' market because inventory is low.
A Sellers' Market is when there are less than 6 months of housing inventory.
A Buyers' Market is defined as when there are more than 7 months of inventory.
So it is STILL a great time to sell a home because home sellers will benefit from serious buyers and competitive offers!
Conclusion:
The fall real estate market typically sees a slight slowdown compared to the summer season. Due to the increase in the inventory of homes, bidding wars are becoming less common, and homes are selling less quickly. If you're thinking of buying or selling a home, now is a good time to do it. Working with a qualified real estate agent can help increase your chances of success in today's market conditions.