There are signs of parity in the housing market. Buying a home just a few years ago was implausible for many buyers. Home prices had sky-rocketed with no end in sight. Things were rocking and rolling for sellers and homeownership was just a pipe-dream for the average consumer. All of the sudden property values started a downward trend and prospective buyers began calling the shots. The market had reverted back in favor of the buyer as home prices declined. Properties were lingering on the market for long periods of time and sellers were making concessions even with the huge price adjustments. Buyers were dictating the direction the housing market was heading.
Real estate is cyclical and abruptly the market has started correcting itself. There are long lines of buyers and few homes to choose from. Neither buyer or seller are controlling their own destiny. Some homeowners have taken a step back and delayed moving which decreased inventory and heightened interest from today’s enthusiastic home buyer. This change of pace has brought about a more balanced market. This even playing field is based on the pretences the seller has some equity in their property. After losing out a number of times to higher offers, buyers realize they have to put their best foot forward. Try to convince those buyers we are in a buyers market following the loss of another home to a higher bid.
There’s a ray of hope for sellers that accurately price their property. Buyers understand their hesitancy can be another prospects gain, which is similar to the mind-set of buyers back during the real estate boom, you snooze and you lose. it’s comforting for sellers to know there are a pent-up demand for well priced homes. How the market progresses in the Spring and Summer will determine if we’re in a full-blown recovery or just putting a band-aid to slow the bleeding. Any slight change with interest rates, unemployment increases or a glut of properties hitting the market at once can alter our recovery. The present state of housing has not had this much equality since the 90’s, with both sellers and buyers feeling a sense of fulfilment with the house they have sold or bought. Stay tuned. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs, join my professional networks on Twitter or LinkedIn and to view local area homes for sale in Davis, California and the surrounding communities.