Complete Realty Team, a Marietta, GA based real estate firm, recently published a blog post that firmly emphasizes how the time is ripe for aspiring homeowners to buy the property they want. They have identified a key opportunity for homebuyers, and this opportunity will likely not be available for long given that mortgage rates are about to rise (which will increase monthly payments). Their blog post aims to inform homebuyers about the opportunity they have and explain what they can do to take advantage of it before it is too late.
The housing market has been very difficult for people to navigate over the past few years. As the Complete Realty Team blog post says, “There’s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point. As you may have already heard, the number of homes for sale has increased this year, and even more so this spring.”
Homeowners looking to sell have benefitted from rising prices and fast sales in recent times, prompting a growing number to sell their homes this year compared to the last, which in turn provides those who are looking to buy with a wider range of options. More homes on the market means more choices, which means buyers are more likely to find a home that has everything they are looking for. This increase in the number of homes available for purchase can also be attributed to the fact that buyer demand has moderated due to higher mortgage rates and other factors.
Complete Realty Team’s blog post quotes Mark Fleming, the chief economist at First American, who states, “There has been a pickup in the inventory that we’ve seen recently, but it’s not from a big increase in new listings but rather a slowdown in the pace of sales. And remember that months’ supply measures the inventory of sales relative to the pace of sales. Same inventory, fewer sales, means more months’ supply.”
The market has essentially shifted away from the frenzied competition among buyers that was seen during the pandemic (which has helped inventory grow). The combination of an increase in the number of homes available for purchase and slower sales means that home buyers are free to take their time choosing the ideal property. This is good news especially for those who have had trouble finding a home until now. This is unlikely to last very long, however, and the blog post advises buyers to be decisive and move fast.
Many have been scared off from bidding on homes after being outbid in the past, but now it is highly possible that the slowed down buying process and the large number of homes available will provide room for those who might not be able to compete in a more intense market.
“It’s not that it’ll be easy or that bidding wars are a thing of the past — that’s not the case,” the blog post says. “But it won’t feel nearly as impossible. As the housing market begins its shift back toward pre-pandemic levels, you could have a unique opportunity in front of you. With moderating levels of buyer competition and more homes actively for sale, your home search may have gotten a bit less challenging. Let’s connect to begin the process today.”
Complete Realty Team, as the name implies, is a team of highly qualified real estate specialists. Led by Ken Mandich, the team advises and assists aspiring homeowners through every step of the buying process and helps current homeowners sell their properties at great rates. Mandich himself has kept up with market trends and knows the real estate industry inside and out, making him a reliable source of information on how to buy and sell houses.
For more information on buyers, sellers and almost every other aspect of the Marietta housing market, get in touch with Ken Mandich and the rest of Complete Realty Team through their website. Interested parties may reach out to the team via phone, email or social media as well.
Source: Report: Now Is The Time To Buy
No comments:
Post a Comment