A Tale of Two Housing Markets: What does it all mean? Stovall Team Answers Your Questions

For a long time, the housing market was all sunshine for sellers. Homes were selling quickly, and buyers had to compete like crazy. But lately, things are starting to shift. Pockets within our area are still super competitive for buyers but we are seeing more homes sit on the market, giving buyers a bit more breathing room.

In other words, it’s a tale of two markets, and knowing which one you’re in makes a huge difference when you move. Stovall Team knows the local market and will help you navigate our current conditions.

What Is a Buyer’s Market vs. a Seller’s Market?

In a buyer’s market, there are a lot of homes for sale, and not as many people buying. With fewer buyers competing for these homes, that means they generally sit on the market longer, they might not sell for as much as they would in a seller’s market, and buyers have more room to negotiate.

On the flip side, in a seller’s market, there aren’t enough homes for sale for the number of buyers who are trying to purchase them. Homes sell faster, sellers often get multiple offers, and prices shoot higher because buyers are willing to pay more to win the home.

The Market Is Starting To Balance Out

In a more balanced or neutral market, homes tend to stay on the market a little longer, bidding wars are less common, and sellers may need to make more concessions – like price reductions or helping with closing costs. That shift gives today’s buyers more opportunities and less competition than a couple of years ago.

Why Are Things Changing?

Inventory plays a big role. When there are more homes for sale, buyers have more options – and that cools down home price growth.

The South and West regions of the U.S. have seen big jumps in housing inventory in the past year. Both are almost back to pre-pandemic levels. That’s why more buyer’s markets are popping up there. But in the Northeast and Midwest, inventory is still very low compared to pre-pandemic. That means those areas are more likely to stay seller’s markets for now.

What This Means for You

Every local market is different. Even if the national headlines say one thing, your town – even your neighborhood will be telling a totally different story.

Knowing which type of market you’re in helps you make smarter decisions for your move. That’s why working with a local real estate agent is so important right now. Call Stovall Team today 714.343.9294. Micah Stovall is an expert on our local market, he will craft your buying or selling strategy specifically tailored to local market conditions. Stovall Team understand the unique trends in your area and can help you make the best choices, whether you’re buying or selling. With our expert strategies, you can move no matter which way the market is leaning, because we know how to navigate various levels of buyer competition, how to find hidden gems locally, how to price your house properly and how to negotiate based on who has more leverage, and more.

Bottom Line

If you’re ready to make a move, or even just thinking about it, connect with Stovall Team at 714.343.9294, Micah would love to help you understand your local market and create a game plan that works for you.