Cary Homeowners, It's A Sellers Market (for now...)!

Dated: July 6 2021

Views: 106

Let me ask you a question. Do you have a crystal ball? Well, neither do I. Right now, there's never been a better time to sell your home, but honestly, that's not always going to be the case. 

Now, I remember back to 2008 when it was seemingly very similar to now, prices were booming, homes were getting multiple offers, buyers were fighting for properties and bidding up the prices over appraisal value. It was almost like overnight we went from it being a total sellers market to it being a slow buyer's market. It truly was insane, we went from having no inventory to having a huge surplus of inventory. 

But remember it wasn't so much the high buyer demand that caused the market to crash, it was largely due to subprime mortgage lending and overextension of credit that led to the collapse. 

Now, I do not think we're going to see that happen today. However, I personally do feel that there is going to be a correction in the market, and I don't think it will be so much of a dip as more of a slowing of growth. 

The fact of the matter is nobody has a crystal ball, and if you're waiting for the market to absolutely peak, you may very well miss your chance. 

Also think of this, if you sell your home and you get a surplus of money that you weren't expecting because the market is so strong today, that means you will also have more money to purchase a higher price home to move into. Also keep in mind that the higher the price of the home, typically the less competition you're going to have to purchase it. You will still most likely be competing just like buyers are for the home that you're looking to sell. But if you're moving up and not moving down into a different price point, chances are it won't be as competitive as what you experienced when you sold. 

Now, be sure to look out for the four other the videos on why I feel this may be the best time for you to sell. I'm Justin Hemker with Namas team at eXp Realty. Reach out with any questions because we want you to love where you live.

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Justin Hemker

Justin Hemker is a Triangle Area Real Estate sales and marketing expert. You will have a hard time finding a Realtor who truly cares for and works harder for his clients, has more passion for his job,....

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