Real Estate markets in each U.S. metro area is unique. In a top US real estate market there are two drivers that impact current homes sales. First, when market demand exceeds supply, the market is know as a sellers’ market. However, at some point, a sellers’ market will stimulate new construction that will balance the market between a sellers’ market and a buyers’ market. In order to find out what it means to live in and hope to sell a home in one of the Top Ten U.S. Real Estate Markets follow along below:
There Are Limitations In The Benefits Of A Seller’s Market For The Seller.
During a housing bubble, a seller’s market may lead to skyrocketing prices. Today, the limiting factors in markets that experience reduced supply include more stringent mortgage qualification guidelines and lack of confidence people may have about their future job security. Both of these factors have an effect on the real number of people that are willing and able to buy.
Housing Markets Are Unique To Location And Price Range.
In a top real estate market one of the reason why the market is doing better than most is due in part to job opportunities in the market. Typically, families willing to relocate for job opportunities are doing so for salaries that would support a higher than average priced home. We know that in most of the top ten markets the inventory gap is most prominent for homes whose value is higher than average.
Many Homeowners In Higher Than Average Price Ranges Have Been Waiting For The Right Market.
So many people who own homes whose value is higher than the average for their market have the ability to wait through the worst markets and time selling their house as soon as conditions improve. The best conditions are when the inventory balance shifts in the sellers’ direction and before significant new construction begins. There hasn’t been a better time in many years in these top markets for a home owner to sell.
An Experienced Real Estate Professional Can Assess Your Situation And Offer Great Guidance.
The professional will want and need to visit your home. They can assess your home to determine the features and conditions that add to or detract from your ability to sell your home at full value in comparison to comparable homes in your community. They will offer to create the most effective marketing plan for your property.
If you have any further questions about selling your home in Raleigh or the surrounding areas, please don’t hesitate to contact us for more information!