The market is shifting from a "seller's market" to a "buyer's market." Essentially, a "buyer's market" means there is more supply than demand, so there are more houses for sale than buyers in the marketplace.
As a buyer, this means a few things for you - mainly, you'll have more options!! You will have lots of homes to look at before making your final decision. You'll also have more room for negotiation. This includes both sales price and closing costs/allowances. Having a good realtor in this market will ensure that you're able to look at all of your options, and negotiate a great deal once you find your perfect home!
On the other hand, as a a seller, the shifting market means more competition. As I mentioned above, buyers will have more options to look at before making their final decision. Just because it's a buyer's market doesn't mean homes aren't selling. It's just a little harder and may take a little longer. Things like professional photos, staging, and pricing your home correctly for the market will ensure that your home is at the top of the pack. As a seller, having a great realtor in this market is more important than ever!
If you're thinking of buying, now is a great time! Even if you're in the early stages, give me a call and we can talk through where you're at, and what steps you will need to take to achieve your goal.
If you're thinking of selling, don't be discouraged! Call me today and I can go over exactly what I can do to get your home sold as quickly as possible for the best possible price.