If you’ve been thinking about selling your house, you’ve probably heard that the market’s cooling off, or “resetting” (as Federal Reserve Chairman, Jerome Powell, recently put it.) So you might be wondering if that means you won’t be able to get as much money for your house as your neighbors did a few weeks back.
On the other hand, there are still reports that house prices are still rising, like in this realtor.com article, which makes you wonder if you could actually get more money than they did!
So, what’s the truth?
There’s no one-size-fits-all answer to that question. Real estate functions on a very local level, and much of what you read is referring to the broader, national market. Indiana is not Phoenix or Las Vegas (where the major price reductions are occurring.) Not only does the general area you live in matter, but the specific price range or neighborhood your house is in can affect whether or not you get more or less for your house. Know that I am here to help you with this!
According to this recent Axios article, nearly 15% of pending home sales failed to close in June. Whether it was due to buyers not getting their mortgage, home inspection issues, or the house not appraising for the sales price, many sellers found themselves looking for a new buyer or going back to the buyers whose offers weren’t accepted initially.
So if you lost out on a house recently, there’s a chance you may get a callback!
If and when that happens for you, CLICK HERE for a few things to keep in mind!
