June Real Estate News: The Pricing Mistake That Could Cost You Your Sale

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  Most sellers come into the market with one number in mind. And it’s often the one that costs them the most. That’s their   asking price .  A  survey  from  Realtor.com  shows about 8 in 10 (80%) of sellers expect to sell at or above their asking price today. But here’s where things get interesting. In reality, only about 4 out of every 10 (roughly  40% ) actually do. That’s a big gap. And it’s where a lot of sellers get caught off guard. So, why the disconnect? And how can you set yourself up to be one of the 4 in 10 that get top dollar?  Let’s break it down. What Should You Really Expect To Get for Your House?   That 40% may sound low at first, but it’s not. If you look back to the last typical year for the housing market (2019), what we’re really seeing is a return to what’s  normal  ( see chart below ). If anything, slightly more homeowners are able to sell above list price today compared to 2019: It only feels low because...
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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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