It’s a New Market Out There

 

We are well into fall which traditionally points to a seasonal slowdown in sales. In addition to that annual downturn, interest rates have continued to increase, changing the market realities for both sellers and buyers. Buyers are now able to ask for discounts and/or concessions, where even a month ago homes were selling above asking price and in as is condition. Some sellers, meanwhile, have been taking a “wait-and-see” approach, sometimes even pausing their sale and considering a long-term lease agreement instead, while others are still getting multiple offers. It really matters how you go to market now, how you price your property, and how you get your home ready for market. As always, who represents you is also crucially important. 

Cash buyers and those with adequate liquidity will be the contenders in this market and first-time home buyers are making aggressive offers to enter the market now, so there is still movement in the market despite growing concerns. With the right representation and advice, there are opportunities for buyers to get incredible deals. There are ways to navigate the current conditions, and we’re happy to offer you help on your home buying or selling journey!