How do buyers react to the shift
In a shifting market buyers will often lose sight of why they are buying. It could be they are looking for a diffent neighborhood, better school district, proximity to work or just local recreation. When we are in a shift the buyer all of a sudden becomes focused on price and price alone.
How do they really know a shift has happened
I can tell you right now working with buyers in particular price ranges the properties are selling quickly. The buyers know that the market has hit bottom and is moving back up. I have sold 2 homes in a particular neighborhood. A new property was just listed $30,000 over one of them. Same size bedrooms, baths and condition. The demand is becoming so great that they just may get it if someone is paying cash. I don't believe it will appraise for that price.
So why does the market shift
Peoples urgency is part of the reason the market shifts. Also when interest rates start to increase this means the monthly payment will also increase. Just another reason why buyers may want to buy now. Lack of inventory is another reason home prices go up. Less to choose from so more compition out there. Home buying tips
Just one more thing
Often people will use brands that are familiar to them. Being an agent with RE/MAX a world wide recognized name gives my clients the confidence that they are working with one of the best! When making one of the biggest decisions of your life why wouldn't you want to work with one of the "BEST"
If you are looking to work with a local real estate economist click here!
We will let you know exactly what the market is doing!
This content created by Barbara VanderMeulen Lead Buyer Specialist
Let us know how we can help you find your next home in Florida.
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