Over the past month or so, I’ve been saying that a more balanced Real Estate Market, equalizing advantages between buyers & sellers, was on the horizon. Currently, the market heavily favors sellers. That’s begun slipping a bit over the past few months. Signs of the shift(Great June Inflation numbers, Increasing inventory(# of houses listing), Longer time on market for listings, lower than expected June jobs numbers, & increasingly likely interest rate cuts in September & more) all point to a more favorable Real Estate Market for buyers, starting this Fall with increasing effect in Winter & culminating in a wild Spring 25.
Lawrence Yun, chief economist for the National Association of Realtors agrees. This article details his (& My) brilliant and far-reaching thoughts: https://chicagoagentmagazine.com/2024/07/23/lawrence-yun-nar-real-estate-forecast-summit/?
There’s a lot that can change financial & Real Estate markets, like say…A Presidential Election or International Conflict or … or… or… You get what I’m saying. Assuming placid months of nothing catastrophic happening, the long & short of it is: If you’re planning to sell your house, do it over the next couple of months to half year before the market really begins to shift to better favor buyers. If you’re a potential buyer, to borrow a phrase: “Winter is Coming.” Things should be looking much better for you buyers in the relatively near future.
Have Fun!
Lew McConkey,
Brook Realty, Serving Whitman Hanson & Surrounding Towns
(781)252-9789
If you have questions about your place in the current Real Estate market, as a buyer, seller or Landlord, Please feel free to call text or email for your free, no obligation consultation.