07/11/2024
โ๏ธDurham Region June 2024 Housing Report โ๏ธโโโโโโโโโโโโโโโโโโ๐ธ"The recent interest rate cut was expected to encourage some buyers to enter the market; however, it appears many are still waiting for further cuts. As a result, the number of days on market has increased across our Region, leading to a rise in active listings" - Vicki Sweeney, CLAR President.
๐น๐ช๐ต๐ฎ๐ ๐๐ผ๐ฒ๐ ๐ง๐ต๐ถ๐ ๐ ๐ฒ๐ฎ๐ป ๐๐ผ๐ฟ ๐ฆ๐ฒ๐น๐น๐ฒ๐ฟ๐?
i) More competition from other sellers with (potentially) greater motivation than you.
ii) Accurately pricing your home to reflect today's market conditions is paramount.
iii) Properly prepare your home before you list it for sale - make yourself the 'easiest' choice for the limited buyers out there.
๐ธ๐ช๐ต๐ฎ๐ ๐๐ผ๐ฒ๐ ๐ง๐ต๐ถ๐ ๐ ๐ฒ๐ฎ๐ป ๐๐ผ๐ฟ ๐๐๐๐ฒ๐ฟ๐?
i) Dial in on your needs vs. wants. Don't fall victim to 'analysis paralysis' due to greater inventory and less urgency.
ii) Know your numbers, what you can & cannot afford, and have an active pre-approval.
iii) If you have a home to sell - you will likely net the most gain on your purchase, not your sale. You're not going to sell for as much, but you also should not have to buy for as much either!
iv) If i) , ii) , and iii) make sense, ***NOW*** is the time to act when the market is soft(er). These conditions (and opportunities) will not last forever.
