This market traditionally swings up and down throughout the year. What are the deciding factors? A few examples are crude oil prices are high and low, stocks are high and low, politics, allies go to war with each other, world economics with so many more. The definition of real estate is called real property. This comprises of land, buildings and or anything attached such as light's, fences, solar systems, swimming pools, air rights, underground rights and many more.
This type of market is when the housing inventory is low and demand of buying a home high. This creates more buyers than available homes for sale. Generally in this scenario home prices slightly rise to offset low interest rates. In this case this can cause bidding wars for high and best offer's on all types of real estate. In this type of market homes are much easier to sell. This definitely trigger's the housing market into an upswing for values to rise over the course of time until the market stabilizes based on world economics.
This type of market is when housing inventory is high and or saturated and not in demand. This causes seller's to give incentives to buyer to offload their home. It's the realtor job to monitor these incentives because you are seriously looking for the best deal with much more benefits than a seller's market. Buyer's have much more leverage and as in both buyer and seller's market producing the best contract with terms will make or break a deal.
There is speculation that late in 2021 the market will burst. Foreclosures and short sale's that are on the horizon and may put us into a deeper recession. This is due to the pandemic of 2020 corona virus that lingers into 2021. If you need further guidance on this in Central Florida, I am a realtor you can count on and always on time, so contact me today at 407 479-8583. Facebook Kevin Sells Florida and Kevin Selling Florida.