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Is the Housing Market Changing?

The national economy is a complex system but there are a few signs that potential homebuyers and sellers can look for that show the housing market is shifting. For the past few years, the home market in the U.S. has been a seller’s market. This means that conditions were generally more favorable for sellers than buyers. Is this changing?

Is the Housing Market Changing

Signs the Housing Market Might Be Changing

Housing Inventory

One of the biggest signs that the housing market is changing is looking at the available inventory. In a seller’s market, there are more buyers than available homes for sale. In a buyer’s market, the reverse is true. When you start to see inventory go up but the number of people looking to buy a home remains the same, chances are that the market is changing.

Keep in mind that this applies to the same area over time. That means that you can’t compare inventory in New York City during one month to the Inventory in rural Iowa a few months later. It is best to look at individual cities and neighborhoods across multiple months and years to get the most accurate picture.

Above Asking Price Offers

Buyers over the past few months have needed to offer more money than the seller initially listed for a home. Buyers have gotten into bidding wars that escalated home prices. Why did this happen? Simply, there was so much competition for the homes on the market that buyers were willing to up their offers to appeal to sellers. Interest rates were also very low, which made it an appealing time to buy.

When fewer offers come in, buyers don’t need to pay more to stay competitive. If offers start to come in at the offering price or lower, things are likely changing to be more favorable to buyers.

Author Bio: Greg Sandler
Greg Sandler is a distinguished leader and strategist in the mortgage and real estate investment industry. With over two decades of experience, Greg has honed his expertise in guiding his clients to build wealth through real estate.

Greg Sandler has direct and first-hand experience as co-founder and CEO of USA Investment Group Management Inc., focusing on growing real estate holdings and diversified asset portfolios. Under Greg's guidance, the company has executed hundreds of traditional real estate acquisitions and currently manages a substantial portfolio of rental units.

Greg also has a track record of driving multi-million-dollar revenues and leading high-performing teams to success in mortgage loan originations, achieving the prestigious "Top 1% Originator" status in consecutive years. Currently steering the helm as the President at USALending.AI in Keller, TX, Greg has revitalized this division of a mortgage bank, significantly expanding the company's scale.

Prior to this, Greg's role as Senior Vice President at Fairway Independent Mortgage Corp in Rocklin, CA, was marked by his pivotal contribution in establishing the company's presence in northern California and northern Nevada. Under Greg's leadership, his team of nearly 110 dedicated mortgage professionals originated and funded approximately $800 million in residential mortgages annually.

Greg's professional journey is marked by his exceptional skills in negotiation, sales leadership, financial analysis, and P&L management. His ability to strategize, coupled with his in-depth knowledge of the mortgage and real estate sectors, makes him a visionary leader and a respected figure in the industry.

To book a call with Greg Sandler, please visit: www.calendly.com/greg-sandler

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