Mark's Market Update - CONSISTENCY: Consistent Inventory Levels and Consistent Interest Rates
Welcome to Mark's Market Update. CONSISTENCY that is the word for the week. Consistent inventory levels and consistent interest rates. Almost like groundhog day. The biggest change for the week was the decline in the stock market, which may adds to buyer's insecurity about the Real Estate market and may impact down payments. We will have to watch the stock market also. One of the reasons for light inventory is many sellers have confidence their home will sell (if priced right, prepared for sale, and marketed to the highest level), but are worried they will not find the right home, once the sell, as a result of light inventory. This is a legitimate concern and a reason many of our client's are "Double Moving". Although not ideal, it makes the seller a very strong buyer and takes pressure off finding that right home in a short period of time. Many strong buyers in todays market are shortening contingencies and many are removing select contingencies. If you have any questions about buying, selling or investing, please do not hesitate to call, email or text.
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