From ARMLS (9/14/22):

Cancelled and Expired Listings, 9/1/2021 – 9/14/2021
459

Cancelled and Expired Listings, 9/1/2022 – 9/14/2022
899

What a difference a year makes! Homeowners are giving up selling their homes. Why? There are a number of reasons: higher interest rates, higher inventory, and unreasonable expectations (aka poor pricing) to name a few. The rate and inventory issues won’t change; we could very well see fixed-interest mortgages in the 7s well into 2024. This will lead to fewer buyers, more inventory, and longer days on market.

For those who do qualify to purchase, the opportunities available will be plentiful. On the resale side, you will see more homeowners offering seller concessions, repairs, and flexibility on terms and price. On the builder side, I am already seeing wild incentives to purchase: I have a client who is getting $30,000 in concessions on his new build.

Now is the time to jump into a true Buyer’s market; remember, I also help, contributing 25% of my commission towards your closing costs, when you use me as your Buyer’s Broker.

Call or message me today to discuss options.

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