My View of the Market - April 2023

Don’t believe the gloom and doom. It is still a seller’s market. While January and early February saw an approximate equal number of buyers and sellers, there are currently more buyers than sellers. The lack of inventory persists. Last month, I predicted that the heat of the traditional spring market would be delayed by a month due to economic conditions. I was right. Things are now heating up. As we end the month of April, my sellers are seeing multiple offers and over-asking prices. I still believe the May 10^th core CPI report will help lower rates and bring even more buyers to the market. Which means sellers again have the advantage.

For Sellers

It’s a great time to sell. Contact me and let’s talk about how to prep your home for sale. Don’t wait. It can take a few weeks to get your home list-ready. I’ll pay for the home inspection and then help to remedy anything that needs to be dealt with. In my experience, most items can be done for very little money out of pocket.

For Buyers

My advice for buyers? Buy soon. I know this sounds like a sales pitch, but that’s not my style. Despite what you read in the media, prices have already risen over 7% in March from the beginning of the year. April has shown over-asking prices and bidding wars to once again be commonplace. This will only ramp up as rates start coming down in May. With prices rising and rates dropping, you don’t need a crystal ball to tell you that the longer you wait the more expensive your next home will be. If you’re worried you’ll lock in a higher interest rate, I can direct you to companies that will allow you to REFI for free in the first year of your loan. The mortgage industry is begging for your business. There are even down payment assistance programs for first time buyers. Call me and let’s talk about how we can get you into a new home this spring before the market overheats again.

I’m here to help! Call me!

My View of the Market – April 2023