Is the market crashing? Well, here's how I look at it.
After two years of an unprecedented real estate market, are we finally going back to normal? The market is normalizing, not crashing.
What does the shift in the market mean? We will continue to see spikes and swift changes in the coming months. Again, I love to refer to what the experts are saying.
Hi, I'm Stephanie Martenzi, Supermom Superagent with Southland Properties, and I'm here to help you make the best decision about your real estate needs. With the number of homes currently selling slow down, we are seeing the market start to look more like it did before 2020. Looking at the graph from the National Association of Realtors, projections are showing home sales return.
Now, the last two years have been unprecedented in terms of the sale of homes. Going back down to numbers like 2019 is not a bad thing, we had a good market at that time, but there's still more work to be done to get to that point. Danielle Hale, Chief Economist with realtor.com, says, and I quote, "active inventory continues to grow, rising 21% above one year ago. In other words, we're starting to add more options, but the market needs to even more before shoppers have a selection that's roughly equivalent to pre-2020 housing market."
Also, real estate hikes have made it harder for buyers to qualify, but it's not much different than what they were experiencing over the past year, where they had to offer significantly over asking to even be in the running to get their offer accepted. There are options and I can help you analyze things you may not be thinking about when making a decision about buying. Connect with me to learn more about the market.
And if it's the right time for your next real estate move, I'm here for you. I'm Stephanie Martenszi, Supermom Superagent, here to help you have a super fun, empowered, and informed real estate experience by guiding you every step of the way. If you see me out in the community, make sure to say hi!
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