The Current Market Conditions
Now that you’re in the market to buy a home, you’re going to notice every little thing you hear about the housing market.
It could be on the TV, a headline or article online, friends, family, coworkers...everyone has an opinion on how the real estate market is doing. Some agents even distribute quarterly market updates that are just too broad and general.
The problem is, most of what you hear is based upon national data, trends, and statistics. Even if it’s “local” insight, it’s often still too broad and general.
Real estate markets are very localized. They even vary between towns and cities, from one price range to the next.
This is why we don’t like to paint it with too broad of a brush.
But, to put it simply, in our area, it is a seller’s market, since there is relatively low inventory, lots of buyer activity, and homes are rarely on the market for more than a few days.
But even that is a fairly broad, general way of looking at the market conditions. We will speak more in depth about the current market conditions specific to the price range and area(s) you’re focusing on.
Bottom line: Don’t base your mindset or decisions on what you casually hear from day to day.