I think we all knew it was coming…a cooling off period in the housing market. It had to at some point, right? Prices were increasing at rates never seen before, interest rates were so low, buyers were plentiful and sellers pushed asking prices to an unsustainable point.
Well, as expected, prices are starting to fall as the pool of buyers has shrunk. Gone, for now, are the days a seller can just put up a for sale sign and expect multiple offers to come flowing in. Not only are we seeing offers come in less than asking prices for the first time in a long time, but we are now seeing more prices reductions; something rarely seen in several years.
Below is a recent article published by Realtor.com on the housing market trends and it’s a good read for those of you who like to stay current and up to speed with the real estate market:
Read the Original Article Here: U.S. Pending Home Sales Slip Again in July as Market Cools, but Mortgage Rates Show Signs of Stabilizing
Hill Country Flat Fee Realty proudly serves the communities of Boerne, Fair Oaks Ranch, San Antonio, Austin, Dripping Springs, Blanco, Round Rock, Cedar Park, Georgetown, Leander, Kerrville, Fredericksburg, Bulverde, Spring Branch, New Braunfels and Comfort. Our flat fee model that saves sellers a ton of cash and is simply the smarter way to sell a property these days. Simply put, there is no need to pay high commissions these days to sell your property…save the money, after all-it’s yours!