The Latest National Housing Trend: What You Need To Know
If you’ve been keeping an eye on the housing market lately, you might have noticed some interesting shifts. Whether you’re in the market to buy or sell, understanding these trends can make a big difference. I’ll break it down in simple terms, even if you’re not a real estate expert.
More Houses Are Hitting the Market
Good news for potential buyers: there are more houses up for grabs! Despite the ongoing challenge of low inventory, more people are deciding to sell their homes. This means you have more options to consider when searching for your dream home.
Buying? Act Fast and Be Prepared
With more options available, it’s tempting to take your time in the decision-making process. However, don’t wait too long. Houses are selling faster than ever, often attracting multiple offers. This means you need to be ready to move quickly when you find a property you love. Don’t hesitate to put in a strong offer to increase your chances of securing the home you want.
Prices are Still on the Rise
While the increase in inventory is a positive sign, it hasn’t put a damper on rising home prices. With more buyers than available homes, competition remains fierce, driving prices higher. On average, home prices are up by 1.5% month-over-month. So, if you’re looking to buy, be prepared to navigate a market where prices are continually climbing.
Sellers, You’re in Demand
If you’re thinking of selling your home, now might be the perfect time. With low inventory and high demand, well-priced properties are attracting multiple offers. This means your home has the potential to stand out in a competitive market. However, pricing it right is key to attracting the right buyers and maximizing your selling potential.
What Does This Mean For You?
Buyers: While you have more options, be prepared to act fast and make strong offers to secure your desired home.
Sellers: Your home could be a hot commodity, but pricing it correctly is crucial. Experts interest and possibly multiple offers if your property stands out.
My Final Thoughts
The national housing market is showing signs of movement, with more sellers entering the market and increased buying activity. However, the imbalance between supply and demand continues to put upward pressure on prices. Whether you’re buying or selling, understanding these trends can help you navigate the market more effectively.
If you are curious about how these trends are playing out in the Central Oregon real estate market, don’t hesitate to reach out for more information. Whether you’re buying, selling or simply exploring your options, staying informed is the first step towards making sound real estate decisions.
Kenzie Carnahan
Cascade Hasson Sotheby’s International Realty
541-419-4132
kenzie@teamrhoden.com
Happy to be a resource to YOU!