When a homeowner lists their home for sale and can’t find an interested buyer, the most obvious thing for them to do is lower their price. After all, their home might garner more attention if it were more affordable. Of course, in this market, home sellers haven’t had to worry too much about that.
Housing Market Cooling?
These days, sellers are more likely to get more than they asked for than they are to have to drop their price. And that’s still true. But while the market is definitely still hot, there are signs that it may be beginning to cool. Even price drops are on the rise. In fact, according to one recent analysis, the number of sellers who’ve lowered their asking price has now increased for 15 consecutive weeks, pushing the share of homes for sale with a price drop to 4.9 percent. That’s the highest it’s been since 2019. Combined with the fact that homes are staying on the market a little longer than they have been, it’s a sign buyers may find more favorable conditions as the summer market heads into fall. Follow the link for more information.
Here at A1 Mortgage, we know how important it is to choose the right house for you and your companion. We have the responsibility to provide you with the best products and the highest level of customer service possible. With hundreds of loan programs available, we tailor a loan specific to your mortgage needs. So come get pre-approved and start shopping for your dream home by clicking here!