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What a Wild Ride

Real Estate Roller Coaster

Hug your realtor, they may not be okay after getting off this real estate roller coaster. Have you recently bought or sold a property? Even those of you who have not closed lately, you have likely observed that real estate has been an exciting, wild ride for two years now! We have experienced a pandemic with social distancing, then a surge in home sales and relocations, and now rapid interest rate increases. In a short period of time we saw the housing pendulum swing to a strong sellers market with properties going into multiple offers and sales closing above list price. We never could have predicted it all! That real estate frenzy could not be sustained and we’re now seeing that pendulum swing back to a middle ground for both buyers and sellers. {Insert deep sigh of relief here}

DORMAN GROUP 251-230-3111

There is no crystal ball in real estate and no textbook full of answers. Some of our clients lament not listing last year when there was a frenzy, but the time was just not right for them to sell their property. Some of our buyers wish they had locked in at the 3.5% interest rate, but they had not found yet fallen in love with a home. Well time for the Good News: for our sellers out there, you will be pleased to know we currently have low inventory of properties which means less competition for you when buyers are out shopping. And luckily for you buyers out there, there is now room for negotiating on properties once again and we see fewer multiple offer scenarios with sales closing above list price. As the pendulum slows we can relax knowing that the market shift we have observed lately is actually more calm and sustainable now. Have questions? We are committed to serve our community and our clients, please don’t hesitate to call us anytime.

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