Here’s what buyers and sellers need to know about our market.
“What is going on in our real estate market?” I receive this question all the time from buyers. Some people are under the impression that the market is about to crash any day now. If you’re concerned about falling prices, take a deep breath.
Real estate is a hyper-local industry, but prices are stable across the country. Home values are no longer skyrocketing, but they aren’t falling either. Some people think that our market resembles the one right before the 2008 crash, but this isn’t the case. That market was driven by bad lending practices and artificial demand. Our current market is driven by low supply.
"Our market looks nothing like the last crash."
Inventory has been increasing recently, but it is still extremely low. As long as we need more houses to hit the market, you can get a great deal for your property. The market is more friendly towards buyers than it has been recently, but we’re still in a seller’s market.
What are people looking for in a home? I’m listing a great home right now that has a feature I’ve noticed a lot of out-of-state buyers love: a guest house! There are plenty of properties in the Hill Country that have lots of space and extra room for family, friends, and pets.
If you are interested in this property or have any questions, please call or email me. I am always willing to help!