The Shifting Market and How it Speaks to Sellers

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The everchanging market

The housing market is undergoing a shift, for sure. Buyer demand is slowing and the number of homes for sale grows. There are benefits to be had with this type of shift and here are some reasons to list your home this fall!

The right home is out there

One of the biggest stories today is the growing supply of homes for sale. Housing inventory has been increasing, mostly due to the higher mortgage rates. This could be a benefit to you as a seller.

If you're selling your house to make a move, it means you'll have more options for your own home search. That gives you an even better chance to find a home that meets your personal needs.

Still not enough homes on the market to balance out

While the number of homes for sale has increased, it is still a sellers’ market. To be in a balanced market, where buyers are benefited as well, there would need to be a six months supply of homes. 

While you'll have more options for your own home search, inventory is still low enough that your home should have no problem selling quickly if priced right. The most recent data from NAR shows the average home sold in July still saw multiple offers and sold in as little as 14 days.

Equity growth for the win!

With the home appreciation over the past few years, it's likely the equity in your home has grown quite a bit.

If you've been holding off on selling because you're worried about how rising prices will impact your next home search, rest assured your equity can help. The equity in your home might come in handy when looking to put a downpayment on a new home.

Contact us today!

If you are thinking of selling this season, contact us today.  We can help!

THE GROESBECK GROUP/Compass. 360.941.3734