Are you curious about the state of the housing market? Like many homeowners, especially potential sellers, you may be hesitant to make a move because there’s a lot of uncertainty and speculation these days.
But you don’t want to let false assumptions keep you from reaching your goals, now or in the future.
Let’s clear up some common myths about what’s happening in real estate right now and what we’re likely to expect going forward.
Myth: Buyers are waiting to enter the market. Record-low mortgage rates mean it’s a great time to purchase a home, and buyers are actively engaging in the market.
Myth: Fall is the wrong season to sell. You’ve probably heard that it’s better to list in the spring or summer. But this fall is a seller’s market — and a highly active one at that.
Myth: Home prices are decreasing. Nearly every metro region saw price growth this year, with trends outpacing expectations. In fact, historically low mortgage rates could allow people to afford higher-priced homes, encouraging them to buy now.
Myth: You won’t be able to show your home. You can show your home safely by following the recommended precautions. Virtual home tours and private showings are also options.
Myth: The real estate market is going to crash. It’s a common concern, but what’s happening today is different from the financial crisis of 2008. Experts are optimistic, as the economy remains fundamentally strong. The housing market looks solid for the foreseeable future, and there is no reason to abandon your plans.
It’s easy for the truth about selling to get lost in the shuffle. If you’re curious about what else is happening in real estate, especially our local market, reach out today.
