When it comes to the latest news in real estate, there are a lot of sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in the experts. Those of us in the housing market respect that buying or selling a home is a major life decision, and we offer advice based on what the data shows.
Despite what you may have read, the housing market is still undeniably strong. Here’s a look at what leading experts have to say about buyer demand today and how it continues to shape the industry:
“Seasonally adjusted purchase applications tick up slightly to the highest level since July. Demand for homes remains strong and steady. Excluding 2020 (not a good benchmark) purchase applications are the strongest in a decade.”
“Home buyer demand pushed price growth to a new record high in June, with S&P CoreLogic national Case-Shiller Index clocking in an 18.6% year-over-year growth rate. The month-to-month index jumped 2.18%, making it another strong monthly growth, and the fastest May-to-June increase since the data series began.”
What It Means for You
As a seller or buyer, demand is an important factor that helps influence how fast your house will sell or how many buyers may be searching for a new place. While things have cooled slightly since the peak of the pandemic housing rush, buyer demand is still far surpassing historical norms.
If you’re torn on whether or not you want to sell or buy a home this year, rest assured it’s still a great time to make a move. Let’s connect to discuss what your best strategy is with the support of your trusted real estate advisors.
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