Sellers Have Incredible Leverage in Today’s Market
With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year.
“Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”
But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. From one year ago, the inventory of unsold homes decreased 13%.
What does this mean for sellers today?
With buyers eager to purchase but so few homes available, sellers who list their houses this fall have a tremendous advantage – also known as leverage – when negotiating with buyers. That’s because, in today’s market, buyers want three things:
- To be the winning bid on their dream home
- To buy before rates rise
- To buy before prices go even higher
Your leverage can help you negotiate your best terms
These three buyer needs give homeowners a leg up when selling their home. You might already realize this leverage enables you to sell at a good price, but it also means you can negotiate the best terms to suit your needs.
And since buyer demand is still high, there is a good chance you will get offers from multiple buyers who are willing to compete for your home.
If you have questions about what’s best for your situation, give me a call or send a text 203.313.0013. I can help you.
Bottom Line
Today’s buyers are motivated to purchase a home this year, and that’s great news if you are thinking of selling!!
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