Fall Real Estate Market Expected to Be Slightly More Buyer Friendly
Autumn is almost here and it may prove to be quite a challenging season for home buyers.
However, worry not as according to a recent article from realtor.com, experts expect that while the fall season may be competitive, it does not compare to the difficulty during the spring and summer seasons.
An indicator supporting the claim is the pace of price growth. An 8.2 median home price increase year over year was recorded the second week of August with a national median home price of $385,000 according to the article. While this is a price increase, it is significantly less than the 17.2 percent increase from April 2020 to April 2021. Moreover an upwards trend in inventory is also expected in the fall; according to data from the National Association of REALTORS®,1.32 million homes were available for sale in July 2021—a 7.3 increase from June. With increasing available inventory, the home search process will become easier for buyers.
If you are looking for help in your home buying adventure, Domain Realty is here to help.
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