What’s Going On In Our Market?

Montgomery County Real Estate Podcast with Diane Cardano

Our current market holds strong opportunities for buyers and sellers alike, and today I’ll explain why. For many, the month of June brings to mind warm weather, summer vacations, and the end of the school year. However, did you know that June is also National Homeownership Month? Given all the changes that have taken place in our real estate market over the last several months, some may not realize that it’s still a great time to own a home. There are many reasons buyers and homeowners alike should remain optimistic about the benefits of owning a home. Average wages are increasing, employment rates are high, the economy is strong, and (as you may have heard) mortgage rates are still at historic lows. On top of all of those reasons, there is also currently plenty of inventory. This means buyers have a ton of options to choose from during their home search. At 4.2 months’ worth of inventory available across markets nationwide, sellers still have the upper hand, but we’re definitely moving closer to a balanced market. This means those who list can no longer afford to choose any price they please and expect their home to sell quickly no matter what. Even so, it’s definitely still possible for buyers and sellers alike to earn a great deal. Of course, conditions may change soon. Studies show that 44% of sellers who had plans to sell in the next 18 months have decided to list sooner in response to recent market shifts. “We’re definitely moving closer to a balanced market.” If you’re personally thinking about selling, then please join me for my next Home Selling Sharks Seminar on October 12 at the Hilton Garden Inn. There, you’ll have the chance to mingle and enjoy some great breakfast foods starting at 8:30 a.m., with the main event starting an hour later at 9:30 a.m. You can learn more about this event (and our seminar series, in general) by visiting www.homesharkseminar.com. And, as always, if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.