The market has slowed down, SUBSTANTIALLY! Quite frankly, I see it as a welcome trend, and many positives to come from it. It's time for us to get back to healthy market conditions where buyers and sellers are seeing opportunities to buy and sell within reasonable time frames.
I've had two successful contingent offers for buyers in the past 2 months, which has allowed for them to be sellers with feasible timelines on selling and buying at the same time. Those are the first contingent offers I have had in over 4 years! Why is that good? It's good because it creates fair and equitable transition between homes. All those sellers that have been asking "Where would I go if I sold???" you now have time and opportunities to buy with feasible timelines given rent back's are possible and contingent offers aren't impossible. That allows for sellers to make a move to your next home you have been dreaming of by upsizing or downsizing as needed.
Make no mistake, this is still a seller's market, but the question is becoming whether it will continue to be a seller's market if supply continues to pick up at the current rate, and as interest rates continue to climb.
Check out the article below for further insights. For any further guidance or recommendations on the value of your home, or how to best approach a possible move, please feel free to call or email with any questions. Thanks!