Mastering the Real Estate Market Cycle: What Homebuyers and Home Sellers Need to Remember

Timing is key however, the real estate market waits for no one. You have may have heard that you should wait until home prices decrease; you may have heard about an impending slower economy; or you may have heard that this is still a good time to sell your home and an even better time to buy. No matter what you may have heard, we’ll let you in on a secret that is known but, not often shared: people buy and sell homes in spite of economic factors, inventory, whether it is a buyer’s or seller’s market or any number of factors.

Homebuyers purchase homes (and home sellers sell their homes) for numerous reasons including a change in circumstances such as relocating due to a job change, divorce, estate sale, and a need to upsize or downsize.

While we as agents can never guarantee what will happen, we can certainly provide one piece of advice: the real estate market is cyclical. While we are seeing a return to the spring sales season, we still have buyers looking (nothing like the frenzy and surge we experienced during the height of the pandemic) and not enough inventory in the most sought after budgets and areas.

Selling and buying in this cycle takes vision, motivation, and consistency. Homes, for the most part, are not flying off the market with tens of offers and going under contract within hours. Seller concessions, such as repairs and credits, have returned in many places however flexibility, thinking outside the box, and targeted marketing makes all the difference when selling. Innovative loan products, careful negotiating, and diligence make all the difference for homebuyers. By listening and heeding the advice of those in the market on a daily basis, it can help make the process easier and more seamless.