More Sellers Are Taking Their Homes off the Market. But Sellers aren't Giving Up

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More Sellers Are Taking Their Homes off the Market. Here’s What You Need To Know. You may be hearing that a near-record number of homeowners are pulling their houses off the market. And if that headline has you thinking,  “Wait… is something bad about to happen?”  You’re not alone. Because when people start stepping to the sidelines, it  sounds  like a warning sign that something’s coming – or that they realize something you don’t know. Here’s the thing. This trend gets spun like it means the market is about to crash. But the data tells a more practical story. What the Numbers Actually Say According to the latest data from  Redfin ,  5.5% of all listings were taken off the market in May.  And it’s true that’s almost the highest it’s been since back in March 2020   ( see graph below ):  That can sound scary. But a lot of the fear comes from how this story gets told. “ A near record number of sellers are pulling their listings ” makes a great c...
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Expert Insights on the 2020 Housing Market

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When closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we expect interest rates to stay low and appreciation to continue.

Here’s what three experts are saying we’ll likely see in 2020:

“I think the biggest surprise from the forecast is how long the market is staying in this low inventory environment, especially as Millennials are in a major home-buying phase…sellers will contend with flattening price growth and slowing activity with existing home sales down 1.8%. Nationwide you can look to flat home prices with an increase of less than 1%.”
“Interest rates will, on average, remain lower…These lower rates will in turn support both purchase and refinance origination volume in 2020.”
“If current trends hold, then slower means healthier and smaller means more affordable. Yes, we expect a slower market than we’ve become accustomed to the last few years…consumers will continue to absorb available inventory and the market will remain competitive in much of the country.”
As we can see, we’re still going to have a healthy market. It is forecasted to be a more moderate (or normal) market than the last few years, but strong enough for Americans to continue to believe in homeownership and to capitalize on the opportunities that come with low interest rates.

Bottom Line

If you’re wondering what’s happening in your market, contact a local real estate professional today.

Original Article from Keeping Current Matters

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