Comparing and Contrasting Buyer's and Seller's Markets

Your Local Real Estate Expert - Michael Perna

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Comparing and Contrasting Buyer's and Seller's Markets

Today we want to talk to you a little bit about the differences between a buyers market and a sellers market so you know how to take advantage of each.

Going into Spring this year, we saw an increase in inventory and this slowed the pace at which home values went up. In 2013, we had a huge increase in average home value at 25% This year, so far we have only had a 3.2% increase in home values.

If you've been waiting to sell, now is the time to do so. This month, a lot of buyers are going to be coming back into the market around the 2nd week in September.

For buyers, experts predict home mortgage rates to go up next year and people are going to want to lock in rates now. If you are pre-approved for a rate this year as opposed to next year, you could be saving thousands of dollars in the next year alone.

Typically the best time to sell is in the Spring, but a lot of people have been looking at the market and know that this fall is a prime opportunity to sell. Buyers that would be entering the market next Spring are going to be entering this fall, and taking advantage of this fact is key.

If you have any questions, please give us a call or send us an email. We'd love to talk to you.