It's a phrase we have been uttering for many months now, drawing in leading indicators to do so. But what does that mean for a seller? A homeowner who is unsure what to do when the wisdom learned over the past few years are suddenly invalid because everything is in a state of flux?
That's the topic of our latest live video discussion with PR Director Hannah Jay and RealEstateSINY.com Broker/Co-Owner Anthony Licciardello. This talk is designed for either someone getting ready to sell in a changing market, or somebody who has already struggled to generate interest in their home because the market is changing too fast to keep up.
We get into some of the reasons the market could be changing- largely, interest rates and home affordability. Investor interest levels has a lot to do with this too. Investors can drive the market, a major factor in the demand rising or falling. When investors start to pull out of an area, home prices stall.
Rising interest level also cause activity to stall. When prices are already in an unaffordable territory, a fraction of a percent rise in interest rates can make or break the feasibility of home purchases for American households. Similarly, a drop in interest rates puts home buying in reach for more people which increases activity.
What should you do if you your home is not getting the attention it needs to receive showings and offers? We talk about the creative way you should market your home if this occurs.
When inventory is high, you will need to know the best way to proceed next. For more insight, watch the live discussion above!