The market has slowed, Is this what you’ve been waiting for?
Hey Home Sellers & Buyers, something remarkable has happened . . . Is this what you’ve been waiting for?
Hi, I’m Terry Tucker, veteran realtor with EXP Realty. I have been selling homes in the San Ramon Valley and beyond for the past 26 years!
Since mid-July, the market has slowed dramatically. For example, inventory in Danville has dropped 27% in active homes on the market! That’s HUGE! Alamo has dropped 17% in Active inventory and San Ramon has also dropped 17%! In addition, both Pending homes and Sold Homes have dropped significantly in all THREE CITIES are down as well! IS THIS WHAT BUYERS HAVE BEEN WAITING FOR?
The question is why? What has happened to make the market hit the brakes across the board? What would reduce the number active homes AND make pending and sold homes slow down too? Well, It’s not interest rates coming down. If that were the only thing that happened, it would have the opposite effect, so that isn’t it. I believe we are looking at a snapshot of a market that is about to shift. We were slowing down for the past 30 – 45 days and I think it’s because sellers were behind the curve and pricing too high and Buyers were tired of the higher interest rates; and so both exited the market at the same time.
The question is what happens next? The truth is nobody knows for sure, but I believe over the next 6 months or so, we will see a reduction in inventory as we near the end of the year AND I believe that interest rates will continue to drift downwards. This could cause a shortage in inventory coupled with slightly higher demand in the early spring. The problem is NOBODY REALLY KNOWS! NAR says home prices will be up next year and Zillow says home prices will be down. Again, nobody knows for sure. If you are considering buying or selling, there are two different strategies here that will pay off depending on which side you’re on. If you are interested in hearing about it, . . . . . . CALL ME! I offer different levels of service and costs for Buyers now too!
With 26 years of experience, I am more than qualified to help you buy or sell a home! I am a Master of Master Negotiators, so if you’re looking to work with one of the best in the business, call me today!
