The “winter” market is upon us, how will this affect you as a buyer, seller or investor? In this housing market forecast, I talk about our current real estate market as well as my thoughts on selling now versus waiting until the spring. When is the best time to sell your home?
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As we move into our winter (holiday market) market, buyer demand as well as inventory generally stalls and this year is really no different except that buyer demand remains pretty strong due to low interest rates. The challenge is there isn’t a lot of available property out there to choose from making it difficult for Buyers to find the right home.
The closer we get to the end of the year, inventory will continue to tighten which will slow buyer demand. This should not be a surprise since it happens every year. With that said, inventory will not start to pick up again until around the Superbowl which typically starts our spring selling season. I expect the 2020 real estate market to be pretty similar to this year with low inventory and buyer demand be driven by low interest rates.
When is the best time to sell your house?
The winter real estate market is not the best time to sell your home as there are generally less buyers out there looking but keep in mind that because our inventory has been so low all year long, it could be a good time only because you have less competition and low interest rates.
At the same time, if you can wait until the spring to put your home on the market then I would definitely recommend waiting because you will likely have a larger pool of buyers to choose from at that time. Typically when you have more buyers looking, you get more exposure which turns into more demand which leads to a higher price. Keep in mind that price is the most important piece of that puzzle. Listing your home for sale in the spring doesn’t mean you can ask for some ridiculous number, you still need to be priced at fair market value.
Are you considering buyer or selling? Do you have questions about the real estate market? Please comment below or contact me directly.
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