CHA-CHING! According to ATTOM, curator of the nation’s premier property database, this year's third quarter statistics show that the average home seller profited just over $100,000 - almost double the profit margin and "the highest level since the end of the Great Recession a decade ago"!
Even with an injured economy and almost two years of COVID-19, the housing market has remained strong and steady.. or maybe a more accurate expression would be tough and crazy. Real estate may be an unpredictable industry, but these last two years have given that adjective a new sense of accuracy. Regardless, that's what keeps it fun and interesting though it may depend on what side you're on - buyer or seller. It's no argument that sellers have had the ball in their court for quite some time now and it shows in the statistics.
"Image by ATTOM"
A combination of factors from the economy and pandemic have led to changes that most all of us have experienced and adopted together. Resulting from these changes, the guarantee of a safe, healthy and accommodating home is one of, or the most important criteria that exists in today's environment. So, as you can imagine or have been experiencing as a buyer/seller in this market, it is a simple equation of supply and demand where demand is (very) high for homes and the supply is (very, very) low. Depending on what area of the U.S. you live in, the extremes of these obviously differ with relocation being a big factor.
To the Sellers out there: GOOD NEWS! There doesn't seem to be a slow down coming anytime soon (even during this Fall/Winter season). So, call now to list your home and claim the "opportunity of the decade"!
To the Buyers out there: GOOD NEWS! We have expert buyer agents that are still getting their clients into their dream homes even in these crazy market conditions.
I probably didn't tell you anything you didn't already know when it comes to the supply and demand that we are experiencing in the housing market, but if you're looking to dig deep into the stat specifics, check out the full article from ATTOM. THEN, let us know when you're ready to discuss this knowledge with a professional who can strategically apply it to your buying/selling scenario and help you make the best "move"!
GreatNest is a full-service real estate company serving buyers and sellers that will save you money in buying or selling a home by charging a low set fee instead of a percentage commission. Our experienced real estate professionals are ready to answer your questions or get started looking for the property that suits your taste and budget.
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