As you can see, the market has moved from the holding pattern it has been in the last few months with rates going up a full 1% over the course of the last month. We still see many sellers in denial that their value has receded resulting in tons of standing inventory. Houses that have taken these rates and a buyer’s house payment into consideration by way of a fair listing price are not only selling, they are selling with multiple offers. The bidding wars of 50k over asking with a first born and a puppy along with waived appraisals are gone for now. Prices are still higher today than they were 12 months ago. It is still a great time to sell. If we could all time the market perfectly and sell at the top and buy at the bottom, we would all be retired on a beach with our billions of dollars in the bank and knowing that is impossible means you can’t feel bad that you missed the top by a few months, you are still in GREAT shape if you bought your home anytime before 2021. This is obviously just surface level material so if you want to have a personal conversation to put a strategy together, just let me know.
- What's going on in The Market?-Real Estate Market News and Updates
- September 2022 Market Update
September 2022 Market Update
Written by Chris Murray on . Posted in What's going on in The Market?-Real Estate Market News and Updates
Tags: Banning, Beaumont, Hemet, Inland Empire, Market, Murrieta, Perris, Real estate, Riverside, San Jacinto, Southern California, Temecula, Update
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