Zillow: The Buying Window Could Be Closing in These States
Summary
According to Zillow data, the housing market may be shifting from a seller's market to a more balanced market. This means less inventory and potentially less negotiation power for buyers. Hosts who are also buyers should assess their affordability in the current market and consider the long-term impact on their real estate investments.
Key Insights
- •Sellers are pulling back in areas where inventory has recovered, such as Texas and Florida, indicating a shift towards a more balanced market.
- •The Northeast is structurally underbuilt, meaning it is still a seller's market.
Action Items
- ✓If considering buying a property, assess affordability based on current prices and mortgage rates to ensure it fits long-term needs.Effort: lowImpact: medium
Watch Out For
- ⚠Waiting to buy a property based solely on hopes that mortgage rates will decline could be a risk, as there is no guarantee rates will fall or that prices won't rise.
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