Whether you are a buyer, seller or both, you need to know what today’s market means for you and your family. Here’s three things to keep in mind:
1. What is happening in the housing market right now?
Consumers must get past those fear-mongering headlines and gain a deep understanding of what is truly happening. How strong is buyer demand right now? How much competition do listings have today compared to what they will have in the spring or what they had this time last year? It’s important to make an educated decision on the most important financial asset your family owns, your home.
2. Why is it happening?
Understanding the individual pieces that impact the sale or purchase of real estate is important. Understanding how those pieces impact each other is critical. How does the verifying mortgage rate adjustments affect the housing market. How will the increased days on market affect the sale price of your home?
3. How do the first two affect your local market?
Basically, you want an understanding of the overall housing market and a simple and effective explanation of how it will impact your personal real estate goals.