In 2020, housing inventory dropped dramatically due to the COVID-19 pandemic and continued falling to all-time lows. However, we're finally starting to see an influx of new listings hit the market, which could lead to more competition amongst buyers, as well as a long overdue price adjustment.
Since summer, the housing market has seen home prices grow at a slower rate than before. Right now, prices have reached their peak—and many experts are predicting that they won't climb much higher than they are now. In fact, they might actually get lower as the market continues to shift.
Over the last year, it wasn't uncommon for buyers to offer tens of thousands over asking price, waive contingencies, and bend over backwards for the perfect home. But as more inventory becomes available, home-seekers might not be willing to go above and beyond for much longer.
After more than a year of a red-hot sellers' market, we're finally starting to see signs of a shift. As new inventory begins to increase, now is the time to list your home before prices flatten out—and we have the resources you need to sell as soon as possible!
We're here to help! The Morrison Home Team wants to make sure you have a great real estate experience and ultimately find the perfect home you will absolutely love. So contact us today and let's get started.