The holidays are coming, the holidays are coming !
Traditionally, that means our real estate market will slow down as people get more distracted with seasonal shopping, travel and celebration plans. Also usually signifying the END to the fall real estate market.
Back in September, Fortune Magazine predicted a more “normalized” market as we head to year’s end, with more inventory, and less competitive bidding, yet that’s not what we’ve been experiencing so far. So will the market begin to die down ?
Well, a lot of would-be buyers are first timers, looking for more space in the suburbs, great schools, and a chance to capitalize on low rates, and they’re simply waiting for more choices to come on the market but have no options, or options that are out of their reach. (Some have waited through the summer to see if the frenzy would abate but it hasn’t.)
A recent Realtor.com report pronounced “2022 will see the continuation of suburbs attracting large numbers of buyers and no matter where they buy, that flood of millennial buyers in the market should keep demand strong.”
On the other hand, many WOULD-BE sellers have switched now to the “stayer” camp – maybe intrigued to hear their potential new and improved home values, maybe even their “dream prices” but faced with a hazy or now what seems like untenable exit plan. We can help – call for a confidential analysis.
The average 50s+ seller finds him- or herself with more equity in their home but they’re not as anxious to take advantage of this sellers’ market (unless they are among the “have-to moves” or the forced move population – due to job, divorce, retirement, different physical needs, etc.
Below are this month’s market reports. And remember, good strategizing with a seasoned professional makes all the difference when you’re trying to make a move, and capitalize on the best opportunities at hand – because there ALWAYS are opportunities!
We’ve checked in with a lot of you one by one, but feel free to check in with us – to discuss how this affects your short and long term objectives.
Best wishes for a bountiful Thanksgiving and a cheerful holiday season ahead !