It’s a Sellers Market!
Let’s go back in time to 2008. The real estate market was very similar to now. Prices were booming. We were seeing multiple offers and bidding wars. Buyers were fighting for properties and bidding up the prices above what the asking price was.
Then it seemed like overnight, a switch was flipped and we went from having a strong sellers market to an aggressive buyer’s market. It was truly insane. We went from having no inventory to having a surplus of inventory. That in conjunction with all the bad mortgages caused the real estate market to crash. We saw a decrease in home values and people were losing their homes left and right.
I only mention 2008 because some people are worried that we’re going to experience the same thing. With analyzing all the current market conditions and reports from many experts, it doesn’t look like we’ll experience that same type of market that we had in 2008. And that’s great news.
Today’s Sellers Market
There are different factors contributing to the strong sellers market that we’re experiencing today. I’ve done a few videos on this very topic, so be sure to watch those if you’re interested.
I do feel there is going to be a correction in the market and we’re seeing it now in some markets where the amount of inventory is increasing and the market times are going up a bit.
I don’t have a crystal ball, but I can tell you that if you’re waiting for the market to go up a little bit more before you decide to sell, you might miss the shift. All of the current factors show that selling now is a good bet.
I believe that knowledge is power so be sure to look out for all my other videos on why I think now is the right time to sell and the current market conditions so you can decide for yourself.
Keller Williams Premiere Properties
Office: (630) 529-0022
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