Could the Market Be Slowing?

I’ve noticed more listings are not flying off the market in the last month. Could the market be slowing? I sure hope so. The last year has been hard on buyers. Multiple offers, waiving inspections, guaranteeing gap coverage between list price and appraised value; it has not been pretty. With home values going up as much as they have, many buyers either can no longer afford to buy, or have decided to stay where they are. For some homeowners, the initial excitement over their home’s possible value waned when they realized just how much it would cost to buy another house.

We can’t continue to sustain these high home values. I love working with first time home buyers, and it’s been frustrating to see the hope of owning a home taken away for some. Interest rates continue to be low which will keep the market moving, but hopefully not as crazy as it was the last year. It would be nice if buyers can take time to think before writing an offer, not have to pay more than list price, and not have to forgo an inspection. It’s so hard as a Realtor to see people choosing to buy a house they know nothing about and not do an inspection just to get their offer accepted. I never advise my clients to do this and yes it does make it hard for them to have a winning offer. But it would be worse for them if the home ended up being a money pit.

So in you are ready to venture into the search for your new home, whether you are resuming a past search or considering buying a new home for the first time, reach out to me and we will find the perfect place for you!