Should you be selling or buying in today’s market?

Over the past few years, housing quickly shifted from a buyers’ bonanza to a sellers’ market due to rapidly rising home prices. Home values – which experienced double-digit drops during the financial crisis – rebounded significantly and made the market more attractive to homeowners who wanted to sell. But, as more owners put their homes up for sale, the increase in available inventory slowed price gains and, once again, tipped the scales toward prospective buyers. Now, according to a new survey of real-estate agents, the question of whether it’s a buyers’ or sellers’ market is a difficult one to answer. It typically takes awhile before the market can adjust to recent changes in prices and buyer demand. That means, though today’s potential home buyer may have confidence that they can hold out for a good deal because there are plenty of homes to choose from, today’s seller may also be confident and feel that they can get the price they want because recent increases in inventory have yet to affect asking prices. This disconnect should be temporary, however, as sellers adjust their asking prices and the market continues to normalize after many years of volatility.

Michael Rosenbaum

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