Buyer Exhaustion, Low Inventory, Market Shifts, and Listing Prices: Here’s What You Can Expect
Anyone looking to buy a home has seen nationwide headlines discussing the state of the current market. Many are afraid to enter such a “turbulent” market, for fear of inventory, listing prices, and the overwhelming amount of competition.
This “crisis” has turned off many buyers — both first-timers and those needing to upsize or downsize — from entering the market. However, we’re here to tell you that there is light at the end of the tunnel, and things are looking better for Charlotte homebuyers.
TL;DR, Plenty of transactions are still happening in Mecklenburg County, meaning opportunity does exist. This month, Charlotte has begun to see a rise in inventory, offering potential buyers more homes to choose from. However, prices are still on the rise and will likely continue to climb, which is why it’s so important to speak to a lender sooner rather than later. The Redbud Group is proud to partner with select Lenders in the Charlotte area. Call us to learn more.
Home Buyers Are Exhausted — And Rightfully So
If you’ve entered the market to buy, you may think it would be easier to book a flight to the moon than it is to land an accepted offer on a home
. The competition is heavy, and the frequency of rejected offers after the rejected offers leaves buyers exhausted.
If you’re looking for your first home, this may cause you to drop out of the market and wait for more “favorable” conditions. However, the fact of the matter is that you can
find a home and you don’t
have to stretch yourself financially to do it. Contact us to learn how.
Those looking to buy their next home using the equity in their current one
may also be hesitant. Yes, you can get top dollar for your home now, but are you willing to compete against other buyers for your dream home? Probably not.
But what if you were able to buy your next home before you sold your current one? That would certainly
relieve buyer exhaustion. And the best part is, it’s possible! Call us today to learn more about the Buy Now, Sell Later Program through our Lending Partner, The McDonough Team. Want a quick overview? Click here to watch.
If You Wanted To Buy, Could You Even Find Something?
This month, the number of listings in MLS for Mecklenburg County has started to slowly but surely increase. This is great news for home buyers, as this means more inventory and more homes to choose from. Plenty of transactions are still happening and opportunity still exists for both buyers and sellers.
Trent Corbin, Founder of The Redbud Group, stated, “With the data showing more homes being listed, Redbud and our agents are uniquely positioned to ride this wave and put our buyers into homes. We are ramping up … to drive more and more opportunities for our clients.”
Will Buyers Gain “Power” In The Market Again?
The “speed” of a correction is not fast; the real estate market shifts over months and years, rather than days and weeks like stocks. If we are in a shift, there is still ground to cover before buyers have power in the market again.
The Pricing Climb
Prices are still climbing — and they won’t be stopping anytime soon. March 2022 showed the highest-ever year-over-year price appreciation at 20.6%. That isn’t going to stop on a dime, which only reinforces the need to speak to a Lender. If you are looking to buy, your finances should be your top priority. That way when you do find your dream home, you’re ready.
What Does This Mean For Home Sellers?
For home sellers, the time to list is now. While inventory is slowly increasing, there is still a large need for more homes in Mecklenburg County. Not to mention, you have the opportunity to get maximum equity out of your home — and that won’t be true forever.
Resources for Home Sellers
The Redbud Team is here to make selling your home easy with two new programs: Buy Now, Sell Later, and Fix & List.
Buy Now, Sell Later
Thanks to our “Buy Now, Sell Later” program, through our lending partner The McDonough Team, you can buy without the anxiety of selling your home first! Buy the home you want, then sell your previous home for top dollar. As Carolina’s #1 real estate team, we have buyers ready right now to buy your home. Call us today to learn more.
Fix & List | Powered by Curbio
Fit & List is the pre-sale home renovation program that helps you make more money on the sale of your home, without the hassle or upfront costs of working with a traditional home improvement company. This program works to transform your property into the move-in-ready listing buyers are looking for, and you don’t pay until you sell your home! Call us today to learn more.