TODAY'S REAL ESTATE MARKET: 4 KEY TRENDS

One thing is clear as we move into the second half of the year: the current real estate market is one for the record books. The exact mix of conditions we have today creates opportunities for both buyers and sellers.

Here’s a look at four key components that are shaping this unprecedented market.

A Shortage of Homes for Sale

The number of homes available for sale fell to an all-time low earlier this year. However, inventory levels are starting to trend up in recent months. 

Buyers who crave more options, this is actually good news. But even though we’re experiencing small gains in the number of available homes for sale, inventory remains a challenge in most states. That’s why it’s still a sellers’ market, giving homeowners immense leverage when they decide to make a move.

Buyer Competition and Bidding Wars

Today’s ongoing low supply, coupled with high demand, creates a market characterized by high buyer competition and bidding wars. Buyers are going above and beyond to make sure their offer stands out from the crowd by offering over the asking price, all cash, or waiving some contingencies. The number of offers on the average house for sale broke records this year – and that’s great news for sellers.

For buyers, the best way to put a compelling offer together is by working with a local and trusted real estate advisor. That agent can act as your trusted advisor on what terms are best for you and what’s most appealing to the seller.

Home Price Appreciation

The competition among buyers is driving prices up. Over the past year, we’ve seen home price appreciation rise across the country. 

Rising home values are a big part of why real estate remains one of the top sought-after investments for Americans. For potential sellers, it also means it’s a great time to list your house to maximize the return on your investment.

A Rise in Home Values and Equity

The equity in a home doesn’t just grow when a homeowner pays their mortgage – it also grows as the home’s value appreciates. Thanks to the jump in price appreciation, homeowners across the country are seeing record-breaking gains in home equity.

That’s a major perk for households to leverage. Homeowners can use that equity to accomplish major life goals or move into their dream homes.

If you’re thinking about buying or selling, there’s no time like the present. Let’s connect to talk about how you can take advantage of the conditions we’re seeing today to meet your homeownership goals.