If you need assistance, please call 703-743-4410

Why It’s Still a Sellers’ Market

Thursday, August 4, 2022   /   by Laura Larson

Why It’s Still a Sellers’ Market

You might be wondering what that means for your intentions to sell your home as reports of the real estate market slowing down from the high frenzy it experienced during the pandemic increases. If you're considering moving, you should be aware that the market is still far from typical.

Even if there are more houses for sale this year than last, the housing market is still undersupplied. And that indicates that the current market is still in favor of sellers. This is because the number of available properties for sale might indicate whether buyers or sellers are in control. Consider it like this:

- A buyers’ market is when there are more homes for sale than buyers looking to buy. When that happens, buyers have the negotiation power because sellers are more willing to compromise so they can sell their houses.
- In a sellers’ market, it’s just the opposite. There are too few homes available for the number of buyers in the market and that gives the seller all the leverage. In that situation, buyers will do what they can to compete for the limited number of homes for sale.
- A neutral market is when supply is balanced and there are enough homes to meet buyer demand at the current sales pace.
And for the past two years, we’ve been in a red-hot sellers’ market because inventory has been near record lows.

How Does This Affect You?
The housing center director at the American Enterprise Institute, Ed Pinto, provides the ideal explanation of the state of the market today: "The best overall conclusion is that we'll switch from a brisk sellers' market to a modest sellers' market."

Even though the market is slowing down, the situation is still favorable to you. You'll make a good deal selling your home today if you collaborate with an agent to set the price at the market level. Despite the fact that buyer demand is waning as a result of rising mortgage rates, properly priced properties are still selling quickly. That indicates that you have time to list your home.

Bottom Line
Today’s housing market still favors sellers. If you’re ready to sell your house, connect with Laura Larson now so you can start making planning your next move.
Larson Fine Properties
Laura Larson
7294 Joffa Circle
Warrenton, VA 20187
703-743-4410

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Larson Fine Properties participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. © 2022 BRIGHT, All Rights Reserved Information Deemed Reliable But Not Guaranteed. Data last updated: August 12, 2022 9 AM.
This site powered by CINC: www.cincpro.com