October real estate market update: It is still most definitely a SELLER’S MARKET! Inventory is low – but not only because the weather is turning colder. IF it were seasonal, buyer activity also would have ticked down and it hasn’t.
It’s a good thing that mortgage interest rates are low too, because prices are continuing to rise and this upward swing of prices is predicted to continue through 2021 and into 2022. Interest rates are also likely going to tick up… but nobody is predicting anything over 3.9% by 2025.
Don’t worry, this is NOT a repeat of 2008.
If your house is on the market and you aren’t getting showings or offers you need a serious sit down with your Realtor. It’s a seller’s market, every house should sell in a seller’s market; you need to know why yours isn’t!
Call me or email us at theblanchardteam@bhhsnj.com for more information.
(If your home is listed with a Realtor, this is not a solicitation of your business.)
