{"id":10712,"date":"2022-08-23T17:04:54","date_gmt":"2022-08-23T17:04:54","guid":{"rendered":"https:\/\/elizabethjebef.com\/?p=10712"},"modified":"2022-08-23T17:04:55","modified_gmt":"2022-08-23T17:04:55","slug":"what-sellers-need-to-know-in-todays-housing-market","status":"publish","type":"post","link":"https:\/\/elizabethjebef.com\/?p=10712","title":{"rendered":"What Sellers Need to Know In Today’s Housing Market"},"content":{"rendered":"\n

If you are considering \u00a0selling your house<\/a>, you may have heard about the housing market slowing down in recent months. While it\u2019s still a sellers\u2019 market, the peak frenzy the market exhibited over the past two years has begun to cool. If you\u2019re asking yourself if you\u2019ve missed your chance to sell your house and make a move, the good news is you haven\u2019t \u2013 motivated buyers are still out there. But pricing your home appropriately is critical in today\u2019s market. Here\u2019s why.<\/p>\n\n\n\n

As Lawrence Yun, Chief Economist at the National Association of Realtors<\/em> (NAR), says<\/a>:<\/p>\n\n\n\n

\u201c<\/em>Homes priced right are selling very quickly<\/em><\/strong>, but homes priced too high are deterring prospective buyers.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

It\u2019s true buyer demand has slowed over the past few months as higher mortgage rates made it more expensive to buy a home. The result is fewer\u00a0bidding wars<\/a>\u00a0and less competition among buyers. But don\u2019t forget \u2013 that\u2019s compared to the meteoric market appreciation we saw over the past two years. According to the latest\u00a0Confidence Index<\/em><\/a>\u00a0from NAR:<\/p>\n\n\n\n

\u201c. . . 39% of homes sold above list price, down from 51% a month ago and 50% a year ago.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

While this is a slower pace than even one month ago, serious buyers are still actively in the market, and they\u2019re buying homes that are priced right. In fact, the Confidence Index<\/em> also notes the average home is selling in just 14 days.<\/p>\n\n\n\n

As buyer demand softens, it\u2019s important to understand this isn\u2019t the same market as last year. It\u2019s not even the same market as just a few months ago. As a Seller, you may need to adjust your expectations accordingly to meet the market where it is today. Selma Hepp, Interim Lead, Deputy Chief Economist at\u00a0CoreLogic<\/em>,\u00a0explains<\/a>\u00a0what\u2019s happening and what it means when you sell:<\/p>\n\n\n\n

\u201cSigns of a broader slowdown in the housing market are evident<\/strong>, . . . This is in line with our previous expectations and given the notable cooling of buyer demand due to higher mortgage rates. . . .\u00a0Nevertheless, buyers still remain interested, which is keeping the market competitive \u2014 particularly for attractive homes that are properly priced<\/strong>.\u201d<\/em><\/p>

<\/p><\/blockquote>\n\n\n\n

While the housing market is gently exhaling, it\u2019s still a sellers\u2019 market. Let\u2019s connect so you understand what\u2019s happening with buyer demand and home prices in our local area as you prepare to enter the market.<\/p>\n","protected":false},"excerpt":{"rendered":"

23 August 2022 ~ If you are considering \u00a0selling your house, you may have heard about the housing market slowing down in recent months. <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[240,87],"tags":[231,232,229],"class_list":["post-10712","post","type-post","status-publish","format-standard","hentry","category-home-sellers","category-trends","tag-home-values","tag-housing-market","tag-selling-your-home"],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"elizabethjebef","author_link":"https:\/\/elizabethjebef.com\/?author=2"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts\/10712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10712"}],"version-history":[{"count":0,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts\/10712\/revisions"}],"wp:attachment":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}