Real estate market shifts occur regularly and it is moving back toward a “buyer” market.
By working with a knowledgeable real estate professional, you can better understand the historical activities within the market influencing today’s behaviors. We wanted to share that back in the 90s; everyone wanted to refinance their homes down to a 6% rate. But right now, this is scaring the market because we have been operating on historically low rates. But what sellers and buyers need to understand is that a balanced market is the best kind of market because of a few different reasons.
- REASON #1 – When there are favorable rates in the marketplace, there are more buyers, but when rates align with market supply, this can help qualified buyers. This lets sellers know that the buyers soliciting their home for purchase are likely viable.
- REASON #2 – If there is a balanced market, there are equal parts, buyers and listings available. Buyers can select from the inventory and do their due diligence to buy a property ideal for them. This is important because you want to be able to choose a home that fits your desires, and as a seller, you want to know that your buyer will make it to the closing table.
Overall, you need to know that a shift to a buyer’s market is a good thing in a market where it has been extremely pointed toward the sellers. The pendulum is swinging back!
There are ups and downs in a market, but this is important to achieve a more balanced market that is healthy. Investing in real estate is worthwhile because the Southeast Wyoming market properties typically appreciate over time. Long-term investments are significant when looking to make money off of your home or property purchase.
Buying a property now is excellent! Waiting for an ideal price is never guaranteed and choosing not to buy because of one factor is not wise. You want to consider the whole market composition, and right now, the shifts are moving in the best direction for buyers than we have seen since pre-pandemic.
Also, our location makes us more resilient to market ups and downs than other communities. In the recession years of 2006-2009 when the market had a hard hit nationally, our community was stronger in real estate with less property value fluctuation.
Therefore, we recommend talking to a real estate professional to understand how the market can benefit you and your real estate desires. Please give us a call at 307-635-0303 to speak with a Cheyenne realtor.