Home sale prices are the result of many different forces: interest rates, inventory, and most of all, human behavior. Lender Fannie Mae keeps a “homebuying sentiment index” and in May, 35% of consumers said it was a good time to buy a home. That’s a big drop from April, when the index was at 47%, and even bigger from May 2020, when 52% of people surveyed thought it was a good time to buy.
I used the image of the mountain ridge because while we’re high up there, I don’t know if we are at the “peak” of prices. However, as our society adjusts to post-pandemic life, the stretch of competition may soon taper off and lending interest rates, still hovering at historic lows, may start to increase.
If you’re thinking of selling your home in the next couple of months or year, you want to keep close attention on sales data and marketing research to determine what may be the best time to sell. Or you don’t! Which is why you will want to hire an excellent sales agent when you decide to make the move.
Julia and I pride ourselves in showing off Maine’s world-class lifestyle and desirability to the widest audience of potential buyers. We want to get our clients the highest price for their property in the shortest amount of time with the least amount of hassle. We would be happy to talk to you about your plans to sell or buy, no matter what stage they are in. Call 207-838-1651 or send us an email at ranellogroup@gmail.com. We love where we live!
Comments are not available on this story.
Send questions/comments to the editors.
