The Market is Slowing Down! | Market Update May 2022

The Market is Slowing Down! | Market Update May 2022

I thought it was really important to reach out to you folks to kind of let you know what’s going on in the market and give you a Market Update because the Market is slowing down. It’s currently the beginning of May 2022 and we’re starting to see a shift in the housing market. If you’ve listened to my videos in the past, you’ll know that we’ve all been kind of watching this market and trying to figure out what’s going to happen. Recently over the last couple weeks, we are starting to see a slowdown of buyers. That’s probably primarily due to the interest rates actually going up and pricing some of those buyers out. Some of them aren’t even being able to get qualified anymore for a reasonable loan. So, we are starting to see a shift. Actually, it’s a healthy thing. We need this. We don’t have any inventory. Inventory is still really low. If you’ve been out there shopping or have been a buyer for the last year-and-a-half, you know how difficult it is able to get yourself a property. So, this is actually a good thing. However, I just want to let everybody know we’re starting to see a shift. We’ll see if it sustains or it goes back up, but we are watching this thing every single day. So, make sure that you reach out to your agent, find out what’s going on. If you’re looking at listing your house pretty quickly, definitely get in charge with your agent to find out what the situation is. If you think that you’re going to be able to throw your house on the market and have 25 people show up, 15 offers, you may be in a big surprise. It’s starting to slow down. We’re not seeing as much traffic in the houses over the last week, and we’re definitely seeing a slow down in the number of offers that we were receiving on our listings. We’re watching it every single day. If you want more information or have more questions, reach out to us, make sure you subscribe to the channel, and hopefully everybody’s having a great day. Thanks, and I hope that was helpful.

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