There’s an analogy that Gary Keller uses to talk about how to face the changes that come to all businesses, but especially to the Real Estate arena. It’s the way that bison charge into oncoming storms instead of staying in place and weathering. The idea is that good businesses turn into the storm and power through, so that not only do they come out stronger on the other side, but they will also move through quicker.
How does this correlate with buying or selling a house? At this moment everyone knows that the market has transitioned from historically low interest rates back to what is essentially the norm. We still see a low rate of growth in the inventory space, which appears to be keeping the market in the seller’s favor. The question is are we in the shift to a buyer’s market, where we’re in the space between and both sides aren’t sure how to respond.
As I wrote in a prior post, the decision to buy a house isn’t one that really can be based on market timing, unless you are buying only as an investor. If you look at social media, you’d think that every house is bought for this purpose, the reality is that most people buy houses to live in. That market is the one that will still be active, no matter what the economy is doing. The investors will also be making moves as well, due to the fact that if there is market upheaval, there are always opportunities to be found.
A good realtor will be looking at all the options available to assist their clients, whether on the buy side or sale side. Hard conversations on both sides, from finding the house to fit the buyer’s needs and budget and on the other side helping sellers find the price point that will make them profitable and also result in a sell. The biggest thing in any market is to remember that no matter what happens in the economy there are always houses to be bought and sold. The home buying/selling experience is a huge move for most people (no pun intended) and finding the right real estate agent to guide the process can make the whole endeavor easier. This is especially true in an uncertain market.