Even calm waters have a lot going underneath, needless to say, shifting real estate market are caused by a myriad of different driving factors. Here are 3 things you need to know to stay on top of it.
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? People want to make an educated decision on what is probably their family's greatest financial asset.
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 amount of a down payment impact the mortgage rate a buyer will be offered? Can you still price your house a 'little ahead' off the market and still be sure it will sell?
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.
The best way to get all three is to contact a local real estate professional who understands this shifting real estate market and can expertly guide you on the journey to reach your housing goals.