ARE WE STILL IN A SELLER'S MARKET?

Dated: August 4 2022

Views: 89

As there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your house. If you’re thinking of making a move, you should know the market is still anything but normal.

Even though the supply of homes for sale has been growing this year, there’s still a shortage of homes on the market. And that means conditions continue to favor sellers today. That’s because the level of inventory of homes for sale can help determine if buyers or sellers are in the driver’s seat. Think of it like this:

  • buyers’ market is when there are more homes for sale than buyers looking to buy. When that happens, buyers have the negotiation power because sellers are more willing to compromise so they can sell their house.
  • In a sellers’ market, it’s just the opposite. There are too few homes available for the number of buyers in the market and that gives the seller all the leverage. In that situation, buyers will do what they can to compete for the limited number of homes for sale.
  • neutral market is when supply is balanced and there are enough homes to meet buyer demand at the current sales pace.

And for the past two years, we’ve been in a red-hot sellers’ market because inventory has been near record lows. The blue section of this graph highlights just how far below a neutral market inventory still is today.

Why It’s Still a Sellers’ Market | Keeping Current Matters

What Does This Mean for You?

Ed Pinto, Director of the American Enterprise Institute’s Housing Center, gives a perfect summary of what’s happening in today’s market, saying:

“Overall, the best summary is that we’ll move from a gangbuster sellers’ market to a modest sellers’ market.”

Conditions are still in your favor even though the market is cooling. If you work with an agent to price your house at market value, you’ll find success when you sell your house today. While buyer demand is softening due to higher mortgage rates, homes that are priced right are still selling fast. That means your window of opportunity to list your house hasn’t closed.

Bottom Line

Today’s housing market still favors sellers. If you’re ready to sell your house, connect with a local real estate advisor so you can start making your moves.


Blog author image

Denise Kearse

For me real estate is nothing about sales. It is everything about helping people achieve dreams and goals. My love for real estate started when my husband and I bought our home. It was such a rewardi....

Latest Blog Posts

Fall To-Do List: 10 Tasks You Must Complete Before Winter

By: John RihaSuch as look for roof leaks before the first winter snow. Preventative maintenance is key.When the last of summer’s heat is a faint memory, and you’re pulling out your

Read More

Should I Sell My Home This Year?

There’s no denying the housing market is undergoing a shift this season as buyer demand slows and the number of homes for sale grows. But that shift actually gives you some unique

Read More

3 Tips for Buying a Home Today

On the off chance that you put off your home hunt anytime throughout the course of recent years, you might need to consider getting it back in view of the present real estate economic situations.

Read More

In This Year, Should I Sell My Home?

There’s no denying the housing market is undergoing a shift this season as buyer demand slows and the number of homes for sale grows. But that shift actually gives you some unique

Read More
Fair Housing Icon NY Fair Housing Notice