HUD Articles
What Does the Rest of Year Hold in Store for Buyers and Sellers?
August 04, 2021
If you have been at all interested in buying or selling a home this summer, chances are you know how prices have been skyrocketing due to lack of listings on the market. The big question for sellers right now is: how long will this price appreciation last?
The top economists in the industry have weighed in, and they are expecting prices to appreciate at a slower pace toward the end of the year due to new listings and more new home construction. What does this mean for home buyers and sellers? Well, the good news is that the market will continue to be great for both buyers and sellers; sellers will continue to benefit from lower inventory and interest rates are still at near record lows to boost buyer’s purchasing power. However it’s also clear that inventory will continue to rise. So sellers – if you have been contemplating selling your home, don’t wait for more competition. List now before you have more competition in the market. And buyers, take heart – it’s been frustrating losing to other offers, but the signs point toward more and more listings entering the market later this year. Your dream home could be right around the corner.
