I've been reading, studying and meeting with my Keller Williams team discussing how cyclical the real estate market has always been, and what we are noticing as the next SHIFT is beginning to happen. We've seen record-low housing inventory for several years, and now we are starting to see a slight increase in inventory. This is a factor in indicating a shift in the market is beginning.
Are you aware of the three types of a real estate market? Anything less than six months of inventory is considered a seller's market and home prices appreciate. Anything greater than seven months of inventory is considered a buyer's market where home prices depreciate. A neutral market is what we find in-between, and home prices will only appreciate with inflation in a neutral market.
So, as we start to see the strong seller's market we've had slowly shifting into a neutral market and later a buyer's market, what does this mean to you, a Buyer or a Seller?
Let's get together to talk about that!
Contact me anytime to discuss how the market shift will affect your real estate goals.