One may think it is a sellers market. Actually it is with a twist, there is a shortage of homes throughout the nation and history shows interest rates has hit between 7-8%. There are hungry buyers out there and unfortunately its is taking much longer to sell homes especially due to the federal government mortgage interest rate spikes June 2022 projected end of 2023. There is simply not enough homes for sale.
The housing market can easily absorb a doubling of inventory. In a sellers market, sellers often think that they do not need an realtor because anyone can sell the house during a favorable period. However it is important to remember that realtor's don't sell houses, rather they facilitate, consult, negotiate, and protect their clients through the process. Existing home sale took a slide in July 2023 click on link to learn more https://www.nar.realtor/newsroom/existing-home-sales-slipped-2-2-in-july
The high demand in purchasing a home is generally always there throughout the nation. Many now are trying to devise a plan to be a homeowner. With the inflation and rising rent our baby boomers and generation Z are the future homeowners with jobs reflecting qualifying income. It seems to be a decent credit score, money saved and 75-100k household income with a low debt to income ratio is the right target zone to purchase a decent home in these times for a first time buyer.
This is still the time to capitalize on equity and serious buyers that are looking to purchase a home. nationally we are still hovering around a three month supply of homes compared to the norm of six months. This includes new construction homes as well that is absorbing the housing market and builders are trying to keep up with the pace as fast as they can.
There are definitely benefits and advantages for sellers in the market because of the housing shortage. You need a trusted advisor and listing agent that watches the housing market to get you top dollar with expert and strong negotiation power working for you. Withe the right features and benefits in your home he or she can educate you the proper listing price for the sale of your home. The price that is set to list your home sends a serious message to all potential buyers. Click link to learn more about will I sell my home in todays market /WILL-MY-HOUSE-SELL-MY-IN-TODAYS-MARKET---32819---32836---6-23368.html
As a trusted advisor, professional realtor and retired military veteran I am here to serve you and always on the pulse of the housing market for the Dr Phillips and Central Florida housing market. Always stay in tuned, educated and connected in the volatile housing market to purchase or for the sale of your home. In the absence of trustworthy up to date information whether its a housing crisis or local housing market, real estate decisions are increasingly be driven by fear, uncertainty and doubt. We as trusted advisors drive the real estate community and always preaching the truth of real estate. I emphasize that education is a must for the community to ensure you are making the right decision.
Part of my job is to keep you educated of the local market and trends, information on the buying and selling process to include real estate common terms and videos. Don't get confused with the news, they talk about national level, I can provide the most current up to date local area data.
So don't let this shifting housing market delay your dreams, data reveals home values typically appreciate over time and that gives your net worth a nice boost. When you are getting help with a home, look for your realtor with the heart of a teacher. If you are ready to start your journey, contact me today at 850 496-6412 to help begin a new walk to homeownership and all your real estate needs.