The housing market has shifted in recent years, but not as dramatically as people may think. There are definitely changes, but they are slow in coming. Buyers have a slightly more favorable market, with prices dropping across-the-board. However, buyers also face the challenges of rising interest rates and higher mortgages. One benefit to buying right now is that there isn’t a whole lot of competition. With a lot of people selling and fewer people buying, prices may be more negotiable than in previous years.
- While prices are dropping, don’t expect them to fall dramatically overnight.
- It may be a buyer’s market, as buyers will find that there is not as much competition out there now.
- Sellers should consider taking advantage of the current market, as this may be the best price they’ll get for their homes for a while.
“The real estate market has been wild for the past couple of years, but many are wondering if it’s finally starting to slow down.”