Even though the supply of homes for sale has been growing so far this year, however the supply is still not enough to defeat a seller market that is trying to cool down based on the interest rate hikes. Many still wonder is it still a seller's market? Click here /IS-IT-A-GOOD-TIME-TO-SELL-MY-HOME---32819---32836---Dr-Phillips-6-22733.html There is still a shortage of homes on the market based on demand on August 4, 2022. That is because the level of inventory of homes for sale can help determine if buyers or sellers are in the driver seat.
Understand this. A buyer's market is when more homes for sale than buyer's looking to buy. When that happens, buyers have the negotiation power because sellers are more willing to compromise so they can sell their home.
In a seller's market it's the opposite. There are few homes available to purchase for the number of buyer's the market and that gives the seller all the leverage. In that situation, buyer's will do what they can do to compete for the limited number of homes for sale. Click here to understand more /SELLERS-MARKET---32819---32836---Dr-Phillips---Central-Florida-6-22352.html
A neutral market is when supply is balanced and there are enough homes to meet the buyer demand at the current sales pace.
As for the past two years, we have been in a red hot seller's market because inventory has been record low's. The blue section in the graph highlights just how far below a neutral market inventory still is today as of August 4, 2022. Click here to know more about what is a real estate market /WHAT-IS-A-REAL-ESTATE-MARKET---32819---32836---Dr-Phillips-6-18853.html
As a trusted advisor, my job is to inform you concerning the pulse of the housing market to make the right decisions at the right time and using trusted outside resources.
Today's housing market still favors the sellers. If you are ready to stay connected, contact me today for a free consultation at 407 479-8583 so that you can position yourself in the driver's seat in the Dr. Phillips area. Serving Dr Phillips and Central Florida. Click here to see more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html