Seller, What's a Buyer's Market when you're moving up?
BUYER’S MARKET DEFINED
Þ A Surplus inventory of homes on the market
Þ More Sellers than Buyers
Þ Low/No appreciation levels
Þ Motivated Sellers as your competition
Þ Sellers offering incentives
Þ More than 6 months of supply on hand, based on the number of homes sold per month (Many markets have 9-12 Months Supply)
Let’s think about this. If you are moving up, A Buyer’s Market or a Seller’s market, does it matter?
If you want to sell your home to buy another home, the Buyers market, or Seller’s market, for that matter is less relevant to the big picture than you might think.
Any dollars that you may give up on the sale of your home, you are very likely to make up when you buy. It washes out, so pricing it right in the first place is a win-win situation for you.
In this Buyer’s Market, who demands a bargain?
1. Buyers for your house
2. You, when you move
Just some food for thought!