With declining interest rates expected to boost both inventory and buyer activity, I anticipate the fourth quarter to set even more sales records and continue to favor sellers. What does this mean for home buyers and sellers?
Buyers
Fall and winter are a great time to buy as there are always fewer buyers looking and competing. If we add in lower rates and some listings lingering and taking price drops (we haven’t seen that in 5 years), this might be the moment you have waited for. There is a lot of logic in buying now and re-financing as rates continue to drop.
Sellers
For sellers, there is always a bit of an uptick in buyer activity before the snow flies. If we add in lower rates, we are nearly guaranteed that buyers will be out and offering. That said, this is not the time to list over the market and if you are listed and lingering, we recommend dropping your price ASAP.
The best time to start planning is now. Preparing your home ahead of time is key to ensuring it stands out and commands top dollar. If you plan to list in the spring, we recommend starting to prep for sale – right now. Find out how we are helping sellers Launch vs List by visiting www.whereyoucallhome.com.