When Is It a Good Time to Buy or Sell in This Market?

? What is happening in the St. Louis real estate market❓️
? Our market is softening.
? Our team's June was the biggest month in the history of our company, and yet July, came to a halt.
? It's Mark Gellman, eXp Realty, St. Louis, Missouri.
? Interest rates had the biggest dip in two years - from 6% to low 5s,
? The most price adjustments from sellers that we've seen in the last couple years.
? Days on Market increasing more than we have seen in the past 2 years
? Highest amount of cancelled contracts, since the start of Covid
? We haven't seen prices dropping yet, although there have been price adjustments, and starting to see changes
More important than any of the above factors is the below impact on the market?
? Under stress and duress, it's natural for people to either:
✅️ Fight or Flight.
However, we're seeing a new dynamic, when we relate to the stress, anxiety and uncertainty of buying and selling a home:
✅️ Freeze. People have frozen. Prospective buyers have frozen, just trying to figure out what they're going to do.
The market is shifting and so is our messaging❗️
✅️✅️"It's a great time to buy or sell, if it's a great time to buy or sell for you and your family"
It's really important to note that we can say all these things about the market being good for a buyer, or not good for a buyer or seller, but what it boils down to is, regardless of the market, there are still individuals that are going to be buying and selling.
However, it's only a great time to buy or sell, if it's a great time for you and your family to buy or sell ?
I'm happy to be that sounding board if you need any advice, if you want an updated market analysis, but at the end of the day, this is a personal decision that you have to make ❗️
Happy to answer any and all questions. Have an amazing day.

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