Most buyers have noticed that the housing market has been fiercely competitive over the last few months. Multiple offers and escalating prices have made it difficult for some buyers to get their foot in the door.
But better luck may be just around the corner. Housing analysts advise that several signs in the housing market point to a potential opening to buy this fall.
COMPETTION IS COOLING A BIT
Market trends indicate that markets are reportedly cooling and listings are receiving fewer offers. In fact, Redfin reported that In September, bidding wars reached their lowest level this year.
More listings are coming to market offering buyers more choices which may give them a little more wiggle room to get their offers in front of sellers. And although the Seller’s market remains intact, a recent realtor.com® report shows housing inventory is at a high for 2021.
“This September, buyers had more options than they’ve had all year and while that’s typical of early fall, that’s not what happened in 2020,” says Danielle Hale, realtor.com®’s chief economist. “Still, it’s important to remember that while buyers may have an easier time this fall than they did in the spring, the market remains more competitive than it has been historically at this time of year.”
Potential buyers will want to watch days on the market to indicate whether now could be a better time to buy in their areas of interest. A trend for homes taking a bit longer to sell is a great marker that it may be time for buyers to make their move.
Potential buyers will never be able to wait out the market perfectly. “If you’re trying to wait for the perfect time, I feel like you’re going to sit and wait forever,” Rob Heck, head of origination at the online mortgage broker Morty, told NerdWallet.
SOUND ADVICE – HIRE A GREAT BUYER’S AGENT
Here at the Laura Wucher Real Estate Team, we have a great set of Buyer’s Agents ready to meet your needs. Visit our website to learn more about our experienced agents who will do the homework for you—and guide you through the buying process with patience and expertise.
An added plus? Our Buyer’s Agents have access to listings before they come to the market which might help you get the headstart you need to find and secure the home of your dreams.
Check out my Tips for Buyers and give me a call today!