I am busier than ever with buyers now. Nothing has slowed down; interest rates, buyers looking to find a home or posted home prices. I only have one current listing, but the new listings that show up on the MLS are not down much, except over the Thanksgiving Holidays. The housing market is quite “robust” as they say. Everyone is on the move….the slight or not so slight upturn in interest rates does effect buyers and thus so sellers, but still interest rates are at a very low level compared to historical ones. In my opinion, buying and selling fever has gotten hot and heavy and the trend will continue until major adjustments in interest rates change or some other huge world calamity rains down on us. Again, in my opinion, the flood gates opened up and people who want to make changes are trying to make them now.
Sellers feel it is a good time to sell; some are in a position to recoup their investments, some have enough equity in their homes to almost retire on and many just want to change homes and now feel that they can sell their homes for a price that makes sense to them. Buyers feel open to buying with low interest rates with the help of some really awesome government programs for assistance and they are pressured if they are renters to buy, because renting is expensive and doesn’t make sense anymore. People cannot be teased into buying a home like they could in years past, as the lending laws have changed; there is not much chance that they will be taken advantage of like back in the early 2000s. The millenium kids are getting closer and closer to middle age and think more about finding a home for their family than they do about coffee shops and hip “walking neighborhoods”. They are growing up. The baby boomers are trying to shed their skins of entrapment of homes and the household possessions they used to hold dear and accumulated over the years.
I hope this “robust” market continues for a few years more as I am invested in it for my income as a real estate agent and a property owner. But, aside from personal interest, it is a good thing; it is fluid. The market is in a place to make changes possible for many people. It has gone up enough for sellers and it is still achievable for many buyers. I think it is in good balance for now, at least in Northern Nevada….where I live and work.