Nancy Lederman

We are still in a 𝐬𝐞𝐥𝐥𝐞𝐫’𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 with a 2.6 month supply of homes for sale at the current sales pace.

Historically, a 6 month supply is necessary for a 'normal' or 'neutral' market.

Why are conditions so good for our sellers? It starts with the number of homes available for sale, which is still low.

When the supply of homes for sale is low, it creates increased competition and upward pressure on prices. However, there are still buyers who are ready, willing, and able to purchase a home.

𝐋𝐚𝐰𝐫𝐞𝐧𝐜𝐞 𝐘𝐮𝐧, 𝐂𝐡𝐢𝐞𝐟 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐬𝐭 𝐚𝐭 𝐍𝐀𝐑, 𝐬𝐚𝐲𝐬: “𝘐𝘯𝘷𝘦𝘯𝘵𝘰𝘳𝘺 𝘭𝘦𝘷𝘦𝘭𝘴 𝘢𝘳𝘦 𝘴𝘵𝘪𝘭𝘭 𝘢𝘵 𝘩𝘪𝘴𝘵𝘰𝘳𝘪𝘤 𝘭𝘰𝘸𝘴. 𝘊𝘰𝘯𝘴𝘦𝘲𝘶𝘦𝘯𝘵𝘭𝘺, 𝘮𝘶𝘭𝘵𝘪𝘱𝘭𝘦 𝘰𝘧𝘧𝘦𝘳𝘴 𝘢𝘳𝘦 𝘳𝘦𝘵𝘶𝘳𝘯𝘪𝘯𝘨 𝘰𝘯 𝘢 𝘨𝘰𝘰𝘥 𝘯𝘶𝘮𝘣𝘦𝘳 𝘰𝘧 𝘱𝘳𝘰𝘱𝘦𝘳𝘵𝘪𝘦𝘴.”

If you list your house in good condition and at the right price, it could get a lot of attention from competitive buyers.

𝐓𝐨𝐝𝐚𝐲’𝐬 𝐬𝐞𝐥𝐥𝐞𝐫𝐬’ 𝐦𝐚𝐫𝐤𝐞𝐭 𝐡𝐨𝐥𝐝𝐬 𝐠𝐫𝐞𝐚𝐭 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐟𝐨𝐫 𝐡𝐨𝐦𝐞𝐨𝐰𝐧𝐞𝐫𝐬 𝐫𝐞𝐚𝐝𝐲 𝐭𝐨 𝐦𝐚𝐤𝐞 𝐚 𝐦𝐨𝐯𝐞. 𝐋𝐢𝐬𝐭𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐡𝐨𝐮𝐬𝐞 𝐧𝐨𝐰 𝐰𝐢𝐥𝐥 𝐦𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐲𝐨𝐮𝐫 𝐞𝐱𝐩𝐨𝐬𝐮𝐫𝐞 𝐭𝐨 𝐬𝐞𝐫𝐢𝐨𝐮𝐬, 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐛𝐮𝐲𝐞𝐫𝐬. 𝐋𝐞𝐭’𝐬 𝐜𝐨𝐧𝐧𝐞𝐜𝐭 𝐭𝐨 𝐝𝐢𝐬𝐜𝐮𝐬𝐬 𝐡𝐨𝐰 𝐭𝐨 𝐣𝐮𝐦𝐩𝐬𝐭𝐚𝐫𝐭 𝐭𝐡𝐞 𝐬𝐞𝐥𝐥𝐢𝐧𝐠 𝐩𝐫𝐨𝐜𝐞𝐬𝐬.

We’re in a Sellers’ Market. What Does That Mean? Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market.

The power is shifting (a bit). Less competition + more inventory = seller concessions (price cuts, rate buydowns) are back.

📲Selling? What can you expect when you list your home for sale. Buying? Navigating the process has changed over the last few months, what does this mean for you?

Buyers May Have More Power Than They Realize Right Now—Here's Why The cost of buying a house has risen, but if you dig into the data, you'll find that many homebuyers might actually be in the driver's seat.

Have you been watching the interest rates climb and home affordability slipping away? Maybe looking back, instead of ahead, will provide answers.

📲 Let's talk about your real estate goals and discuss how to navigate the current real estate market.

𝐓𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐡𝐚𝐬 𝐜𝐡𝐚𝐧𝐠𝐞𝐝. 💡⁠
⁠
Over the past two years the imbalance of low housing supply, high buyer demand, and low interest rates pushed home sales and buyer competition to new heights.

𝐁𝐮𝐲𝐢𝐧𝐠 𝐚 𝐡𝐨𝐦𝐞? Rising interest rates have eased home buyer demand, along with mounting economic uncertainty. Housing supply has increased nearly 27% over last year, though still low overall. 𝘠𝘰𝘶'𝘭𝘭 𝘩𝘢𝘷𝘦 𝘭𝘦𝘴𝘴 𝘣𝘶𝘺𝘦𝘳 𝘤𝘰𝘮𝘱𝘦𝘵𝘪𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘮𝘰𝘳𝘦 𝘰𝘱𝘵𝘪𝘰𝘯𝘴 𝘵𝘩𝘢𝘯 𝘭𝘢𝘴𝘵 𝘺𝘦𝘢𝘳.

𝐒𝐞𝐥𝐥𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐡𝐨𝐦𝐞? Buyers are still out there, and your house may be exactly what they've been looking for. 𝘜𝘯𝘥𝘦𝘳𝘴𝘵𝘢𝘯𝘥𝘪𝘯𝘨 𝘵𝘩𝘦 𝘮𝘢𝘳𝘬𝘦𝘵 𝘤𝘰𝘯𝘥𝘪𝘵𝘪𝘰𝘯𝘴 𝘢𝘯𝘥 𝘱𝘳𝘪𝘤𝘪𝘯𝘨 𝘺𝘰𝘶𝘳 𝘩𝘰𝘮𝘦 𝘳𝘪𝘨𝘩𝘵, 𝘣𝘢𝘴𝘦𝘥 𝘰𝘯 𝘤𝘶𝘳𝘳𝘦𝘯𝘵 𝘮𝘢𝘳𝘬𝘦𝘵 𝘷𝘢𝘭𝘶𝘦, 𝘺𝘰𝘶𝘳 𝘩𝘰𝘮𝘦 𝘤𝘢𝘯 𝘨𝘦𝘵 𝘴𝘰𝘭𝘥 𝘲𝘶𝘪𝘤𝘬𝘭𝘺.

𝐁𝐨𝐭𝐡 𝐠𝐫𝐨𝐮𝐩𝐬 𝐚𝐫𝐞 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐢𝐧𝐠 𝐡𝐨𝐰 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐫𝐚𝐭𝐞𝐬 𝐚𝐫𝐞 𝐚𝐟𝐟𝐞𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐞𝐢𝐫 𝐛𝐮𝐝𝐠𝐞𝐭𝐬. 𝘐𝘧 𝘺𝘰𝘶 𝘱𝘭𝘢𝘯 𝘵𝘰 𝘣𝘦 𝘪𝘯 𝘵𝘩𝘦 𝘩𝘰𝘶𝘴𝘦 𝘢𝘵 𝘭𝘦𝘢𝘴𝘵 𝟻 𝘺𝘦𝘢𝘳𝘴, 𝘵𝘩𝘦 𝘰𝘱𝘱𝘰𝘳𝘵𝘶𝘯𝘪𝘵𝘺 𝘵𝘰 𝘳𝘦𝘧𝘪𝘯𝘢𝘯𝘤𝘦 𝘮𝘪𝘨𝘩𝘵 𝘣𝘦 𝘢 𝘴𝘰𝘭𝘶𝘵𝘪𝘰𝘯 𝘥𝘰𝘸𝘯 𝘵𝘩𝘦 𝘳𝘰𝘢𝘥. Let's talk 📲about the current market conditions, and strategize a plan that will help you achieve your real estate goals.

The Latest on Supply and Demand in Housing Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point.

𝘛𝘩𝘦 𝘱𝘭𝘢𝘺𝘣𝘰𝘰𝘬 𝘧𝘰𝘳 𝘴𝘦𝘭𝘭𝘪𝘯𝘨 𝘢 𝘩𝘰𝘮𝘦 𝘯𝘦𝘦𝘥𝘴 𝘢 𝘮𝘢𝘬𝘦𝘰𝘷𝘦𝘳, 𝘢𝘯𝘥 𝘰𝘧𝘵𝘦𝘯 𝘴𝘰 𝘥𝘰 𝘵𝘩𝘦 𝘩𝘰𝘶𝘴𝘦𝘴.

Not all renovations are worth the cost for sellers, data suggest. 𝐓𝐡𝐞 𝐭𝐨𝐩 𝐭𝐡𝐫𝐞𝐞 𝐢𝐧𝐭𝐞𝐫𝐢𝐨𝐫 𝐫𝐞𝐦𝐨𝐝𝐞𝐥𝐢𝐧𝐠 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐫𝐞𝐭𝐮𝐫𝐧 𝐨𝐧 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐫𝐞 𝐚 𝐡𝐚𝐫𝐝𝐰𝐨𝐨𝐝-𝐟𝐥𝐨𝐨𝐫𝐢𝐧𝐠 𝐫𝐞𝐟𝐢𝐧𝐢𝐬𝐡, 𝐧𝐞𝐰 𝐰𝐨𝐨𝐝 𝐟𝐥𝐨𝐨𝐫𝐢𝐧𝐠 𝐚𝐧𝐝 𝐚𝐧 𝐢𝐧𝐬𝐮𝐥𝐚𝐭𝐢𝐨𝐧 𝐮𝐩𝐠𝐫𝐚𝐝𝐞, according to a recent National Association of Realtors report.

Some sellers might find that smaller fixes such as a fresh paint job can make a bigger impression on buyers than pricier changes such as a renovated third bathroom, real-estate agents said.

A big remodeling project, such as a new kitchen or deck, might not be worth the investment and delay a seller’s timeline, given supply and labor shortages, said Jessica Lautz, a vice president at NAR. 𝘍𝘰𝘤𝘶𝘴 𝘰𝘯 𝘮𝘰𝘳𝘦 𝘢𝘧𝘧𝘰𝘳𝘥𝘢𝘣𝘭𝘦 𝘱𝘳𝘰𝘫𝘦𝘤𝘵𝘴 𝘵𝘩𝘢𝘵 𝘢𝘱𝘱𝘦𝘢𝘭 𝘵𝘰 𝘣𝘶𝘺𝘦𝘳𝘴 𝘢𝘯𝘥 𝘭𝘰𝘰𝘬 𝘣𝘦𝘢𝘶𝘵𝘪𝘧𝘶𝘭 𝘪𝘯 𝘱𝘩𝘰𝘵𝘰𝘴, such as refinishing hardwood floors, she said.

Anything that isn't broken, is costly to replace and isn’t overtly visible, such as a new central air-conditioning system, won’t impress buyers as much as improvements they can see, such as new doors for the kitchen cabinets or customizable closet shelves, she said. Aim to fix anything that an inspection would turn up.

𝐃𝐨𝐧’𝐭 𝐟𝐢𝐱𝐚𝐭𝐞 𝐨𝐧 𝐢𝐭𝐞𝐦𝐬 𝐭𝐡𝐚𝐭 𝐝𝐨𝐧’𝐭 𝐦𝐚𝐭𝐭𝐞𝐫... 𝐭𝐨 𝐛𝐞𝐭𝐭𝐞𝐫 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮𝐫 𝐛𝐞𝐬𝐭 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐢𝐬, 📲𝐫𝐞𝐚𝐜𝐡 𝐨𝐮𝐭 𝐭𝐨 𝐦𝐞 𝐭𝐨 𝐝𝐢𝐬𝐜𝐮𝐬𝐬.

The Repairs That Will Help Sell Your House in a Cooling Market The playbook for selling a home needs a makeover, and often so do the houses.

The housing market is rapidly changing from the peak frenzy it saw over the past two years.

To help answer some of your questions, here are a few things experts are saying about the fall housing market. 👇🏼

📲If you want the latest information for your area, let’s connect today.

What Are Experts Saying About the Fall Housing Market? The housing market is rapidly changing from the peak frenzy it saw over the past two years. That means you probably have questions about what your best move is if you’re thinking of buying or selling this fall.

That home might be overpriced if it’s been on the market for 3+ weeks, or is priced higher than similar properties in the area….plus other red flags to be on the lookout for.

Rip-Off Alert! 5 Signs a Home You Hope To Buy Is Overpriced Sellers are no longer in a position to jack up their prices and expect homebuyers to pay them. Here are five signs they're out of touch.

“If we learn nothing else from this tragedy l, we learn that life is short and there is not time for hate.” - Sandy Dahl, wife of Flight 93 pilot Jason Dahl, in Shanksville, PA- 2002

#911

Increasing interest rates have definitely impacted the purchasing power for home buyers. 𝘋𝘪𝘥 𝘺𝘰𝘶 𝘬𝘯𝘰𝘸 𝘺𝘰𝘶𝘳 𝘣𝘰𝘳𝘳𝘰𝘸𝘪𝘯𝘨 𝘱𝘰𝘸𝘦𝘳 𝘪𝘴 𝘥𝘪𝘳𝘦𝘤𝘵𝘭𝘺 𝘳𝘦𝘭𝘢𝘵𝘦𝘥 𝘵𝘰 𝘺𝘰𝘶𝘳 𝘤𝘳𝘦𝘥𝘪𝘵 𝘴𝘤𝘰𝘳𝘦? 𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐡𝐨𝐰 𝐭𝐡𝐞𝐲’𝐫𝐞 𝐜𝐚𝐥𝐜𝐮𝐥𝐚𝐭𝐞𝐝, 𝐚𝐧𝐝 𝐡𝐨𝐰 𝐲𝐨𝐮𝐫 𝐚𝐜𝐭𝐢𝐨𝐧𝐬 𝐚𝐫𝐞 𝐢𝐦𝐩𝐚𝐜𝐭𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐬𝐜𝐨𝐫𝐞 𝐜𝐨𝐮𝐥𝐝 𝐬𝐚𝐯𝐞 𝐲𝐨𝐮 𝐭𝐡𝐨𝐮𝐬𝐚𝐧𝐝𝐬 𝐨𝐟 𝐝𝐨𝐥𝐥𝐚𝐫𝐬 𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐥𝐢𝐟𝐞 𝐨𝐟 𝐚 𝐥𝐨𝐚𝐧.

If you’ve got questions about how to prepare to buy a home, send me a message — I’m happy to help!