December real estate market update: It is still most definitely a SELLER’S MARKET! Inventory is low – but not only because it’s the holiday season. IF it were seasonal, buyer activity also would have ticked down and it hasn’t.
It’s a good thing that mortgage interest rates are low too, because prices might be ticking up in some places and the upward swing of prices is predicted to continue into and through 2021. Interest rates are also likely going to tick up… but nobody is predicting anything over 3.9% by 2023.
Still though, many of the people who are buying are buying because they want to, not because they need to – that’s holding prices to reasonable levels.
Don’t worry, this is NOT a repeat of 2008.
If your house is on the market and you aren’t getting showings or offers you need a serious sit down with your Realtor. It’s a seller’s market, every house should sell in a seller’s market; you need to know why yours isn’t!
Call me or email us at firstname.lastname@example.org for more information.
(If your home is listed with a Realtor, this is not a solicitation of your business.)