Summer is wonderful. The weather is lovely, and there’s so much extra daylight that you have plenty of time for all kinds of outdoor activities. It’s almost too perfect. Well, that is
Spring Has Sprung...Has The Real Estate Market "Sprung" Too?
Dated: March 24 2021
The "buzz" surrounding the real estate market since about 2014 has been declining inventories. Over the past year some would say that we have hit a critical point with the lack of available listings in relation to the buyer demand. For clarification, the concern is that there have not been enough listings for the "swarms" of buyers looking for homes.
The onset of the Coronavirus outbreak, lockdowns, and concerns over job stability continue to contribute to the disparity.
In a more balanced market spring is the unofficial "listing kickoff season". That rush of spring listings has not really happened over the past 5-7 years. So far, 2021 promises to be more of the same.
While the current market conditions are ideal for someone selling their home; it causes major problems for anyone attempting to buy a home:
If you were to sell your home- where would you go if a suitable home is not available?
Experts are suggesting that most homeowners are up to 38% more equitable than they were during and just after the mortgage crisis of 2008.
An increase in month over month inventory by as little as 15-20% would make significant impact on balancing the market and easing tensions for buyers and sellers alike.
To answer the title question- It does NOT appear that the real estate market has "sprung" or that it will loosen up in 2021.
What can be done if you are in a position to sell your home but you are concerned about finding a home that suits your needs? We conduct a FREE consultation to discuss your current situation and what your needs would be for your next property. Often times we are finding that the solution is much easier than expected. In the event that there is no reasonable solution we will be up front and share that news as well.
We don't want you to get "stung" and find yourself without a "hive" for your colony.
Bee Well My Friends
For nearly 16 years Jeff has served the Greater Shiawassee Area through his real estate business and volunteering his time. Recently Jeff acquired his broker's license and along with his wife Missy,....
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