The uncertainty the planet faces today because of the COVID-19 pandemic is causing so a lot of things to change. The real way we interact, the way we conduct business, even just how we buy and market opens in a new windowreal estate is changing. It is a instant that’s actually sparking some purchasers to search for an improved deal on a house. Sellers, however, aren’t supplying a discount these days; they’re holding constant on price.
According to the newest opens in a new windowNAR Flash Survey (a survey of real estate agents from in the united states), agents were asked the next two questions:
1. “Have all of your sellers recently reduced their price to attract buyers?”
Their answer: 72% said their sellers haven’t lowered prices to attract buyers in this health crisis.
2. “Are home buyers now expecting lower prices?”
Their answer: 63% of agents said their buyers were buying price reduction of at the very least 5%. opens in a new window
What We CAN SAY FOR CERTAIN
In today’s market, with everything changing and ongoing questions around once the economy will bounce back, it’s interesting to notice that some buyers see this time around as an possibility to win big in the housing marketplace. Alternatively, sellers are a lot more confident that they can not need to lessen their prices to be able to sell their homes. Clearly, you can find two different perspectives at play.
If you’re a buyer in today’s market, you will possibly not see many sellers lowering their prices. If you’re a seller and don’t desire to decrease your price, you’re not by yourself. When you have questions on how best to price your home, let’s connect today to go over your real estate needs and then steps.
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