Sellers Have Incredible Leverage in Today’s Market

Sellers Have Incredible Leverage in Today’s Market

Serious buyers are more motivated than ever to find a home before the end of this year, and it's not just because mortgage rates have climbed above 3% for the first time in months. Chief Economist Lawrence Yun puts it best when he says: "This housing market has always been driven by fear."
The NAR estimates that house-hunters make up 20 million Americans looking at homes today - with many being seriously priced out from conventional mortgages!

“Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”

While the housing market is on its knees, homebuyers are feeling an intense sense of urgency to buy. The reason? There aren't enough homes for sale at prices they can afford! According to NAR's latest Existing Home Sales Report:
-The inventory shortage has created "a very tight sales environment" where buyers have "to be more ambitious about location choices." -Short supply means higher bids and premiums over asking price across most markets measured in the report.

“From one year ago, the inventory of unsold homes decreased 13%. . . .”

What Does This Mean for Sellers Today?

Now is the time to buy! Sellers who list their homes this fall have a tremendous advantage when negotiating with buyers. With so few houses available and eager buyers, you can get ahead of your competition by offering them what they want: A dream house before rates go up even more, or an opportunity for value capture before prices start skyrocketing again like they did last year - all at once? This deal will be tough if we end up going into another recession but don't worry.

Your Leverage Can Help You Negotiate Your Best Terms

When you’re looking to buy a house, these three buyer needs give homeowners an edge when selling their homes. You might already realize this leverage enables them sell at good price but it also means that they can negotiate terms which suit them best and compete with other would-be homebuyers who want your property too!

Since there's still high demand for properties like yours across all markets today - not just local spots where prices might be buoyant right now - I predict we'll see multiple offers come in from different buyers willing competing over our offer instead of taking “no" for an answer after one bad experience somewhere else down the line during.

Bottom Line

As the housing market continues to recover, it’s not surprising that buyers are motivated this year. Sellers will have an even more advantageous position in today's markets because of their leverage as sellers! Let me connect with you so we can discuss how much power is at our disposal when selling homes these days.

Post a Comment