Who Has The Advantage In Today’s Housing Market?
Raleigh Real Estate Advice
How can you tell whether your area is experiencing a buyers’ or sellers’ market? When the number of houses on the market drops and the number of buyers who want to purchase grows, it’s a sellers’ market. In this type of environment, sellers will experience home appreciation, quick sales and, possibly, offers that exceed listing prices and multiple-contract offers.
In a buyers’ market, the number of houses on the market is high compared to the number of buyers. The average number of days homes stay on the market stretches out, and sellers may be forced to drop prices or make more concessions, such as paying points and closing costs.
Another indicator of a buyers’ market is an increase of the number of absentee owners—owners who rent-out their houses, waiting to sell once the market improves.
Give us a call at 919-649-6638 or contact us through our Raleigh Homes website, Home Search Raleigh if you’re interested in learning the specifics about the real estate market in our area. If you like, we would be happy to help you craft a buying or selling strategy to take best advantage of the current trend.
P.S. For more home-buying tips, click Here Are Some Cool Moves for Buying a Home in a Hot Market. It’s yours absolutely FREE!