No matter what if there is one thing that is constant that is change. We have been in a seller’s market for a really long time, over a year and a half now. While I do not think we will see a sudden shift, we are starting to see inventory rise and more price reductions happening. The price reductions in my opinion are starting due to agents trying to lead the market too far. I do think prices will continue to rise for a while but at not such a neck breaking pace. 

What this means for you as an agent is that you should be careful when taking on new listings at your wording with your clients. If you decide to list at maximum price and tell them to expect multiple offers you could end up letting them down. Of course in the lower dollar starter homes this is going to take longer to hit since we have so many home buyers that still have not been able to land a home. 

The good news to all this is if you have a big stack of buyers now is the time to strike. They will be a bit tentative as this shift starts happening. One of the first things buyers will say is “Is the market going into a downward spiral”. To me the answer to that is no. It is just a rise in inventory and a slowing of the growth. The growth will continue on for a while. This means do not miss the opportunity to get a home while the prices are stabilizing and the inventory is surging. 

As a real estate agent we need to know how to work in any market. By always watching the data you can better understand the market and be more helpful to you clients. I hope this blog helps you in the second half of 2021 to land more sales. Thanks for reading and make sure to check out our Podcast, Facebook Group, Newsletter, and Website www.realfactsonrealestate.com . Please leave any questions or comments below.

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