Our Market Is Starting to Change
Here are the changes we’ve been seeing in our real estate market lately.
Today I want to share what our real estate market has been doing lately. I’m sure many of you have heard that the market is crazy and that people are getting multiple offers, but we’re starting to see the market change. This is the third month in a row that we’ve seen fewer sales in our market overall, so the aggressive demand is starting to lessen.
Part of the reason may be that FHA buyers can’t afford a home at the current prices. Also, most VA buyers (who get 0% down) can’t compete with all the waived appraisals by their competitors. This means we’re also beginning to see a bit more inventory, though not a huge amount.
"We’re starting to see the market change."
The market is still competitive, it just isn’t the same as it was from January to March where some people were seeing 40 to 50 offers for their homes. On the nicest houses, we’re seeing between five and 10 offers. Additionally, we’re still seeing an increase in home prices.
If you have any questions about our market or real estate in general, call or email me. I’d love to speak with you.