Market Conditions for Homebuyers and Sellers
by: Jeff Quintin, on July 30, 2020 - Market Update
Here are my thoughts on the market for homebuyers and sellers right now.
Based on what’s going on in our real estate market, is it the right time to buy or sell a home right now? Every situation is different, but here’s what market conditions say for buyers and sellers.
For sellers, inventory is at an all-time low, buyer interest is pent-up, and there are more buyers than sellers. Demand is very high due to many buyers taking advantage of low, low interest rates. Put all of this together, and it’s a great time to sell because you’ll get the absolute best price you ever could.
It’s true that these conditions are going to make things a little more competitive for buyers “or sellers who become buyers,” but you have options. Even if you can’t find the perfect home based on what’s available now, you can sell now, take the cash, and rent while you wait for the perfect home to hit the market.
However, some of the benefits of buying right now include great affordability because of the aforementioned low interest rates, increased buying power, and the opportunity for fantastic long-term savings.
As you can see, it’s a great time to buy and sell in this market and I don’t know if things will get any better than this. If you have any questions about buying a home, selling a home, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you.