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The past two years have, without a doubt, been a HOT seller’s market — now that the market is starting to shift, we keep hearing the terms “stabilized” and “normalized” market. So what do those terms actually mean?
Although most markets rarely exist in a state of “normalcy,” economists are forecasting a more stable market in the coming years — not quite a buyer’s market, but also not the seller’s market we have come to experience over the past 2 years.
Here are a few things we could see moving into a more stable market in the coming months:
‣ Houses won’t be sold sight-unseen with no contingencies
‣ Homes may sit on the market for a few weeks … or even months (gasp)
‣ Negotiations are slowly starting to come back, along with price decreases
If you took a breather from the housing market because of the crazy competition, it may be time to jump back in while others sit on the sidelines and miss their opportunity. Questions about our current market or the shift we are seeing? Send me a message!