There are many different factors that can change the results in real estate, and it is important that you are paying attention to the trends if you are planning to buy or sell a home. These trends can impact the price of the home, as well as the amount of time that it takes to connect with the right buyer or seller. The best thing that you can do to understand the changes and stay ahead of the curve is to work closely with an experienced real estate agent. In this article we will be discussing Timing and Circumstances Change Everything in Real Estate.
Factors that Can Affect the Real Estate Market
Even though there are some industry changes that can’t be predicted, there are a few factors that can give insight into the changes that might be coming up in the industry. These are some of the factors that might impact the time that it takes to sell a home and the price that the home will sell for:
- Time of Year: Did you know that there are more real estate transactions during certain months of the year? Even though it is possible to buy or sell a home throughout the year, people tend to plan their moves based on the convenience of the calendar. For example, fewer people list their homes on the real estate market during the end-of-year holiday season, and there are typically more homes on the real estate market in the spring and summer months.
- Inventory: The number of comparable homes on the real estate market will influence the selling price of the properties. If there aren’t as many listings, it means that the inventory has decreased. Basic economic supply-and-demand applies in this situation, which means that fewer home listings might result in higher prices since the buyers don’t have as many options to choose from.
- Economy: We have seen big changes in the real estate market over the past 10 years, which shows how the economy can impact home sales. Factors such as mortgage interest rates and unemployment can play a role in whether people want to buy or sell a home.
- New Construction: The number of new homes that are being built can impact the sales of older, existing homes. If there are a lot of new homes in a certain area, then it might be harder to sell an older home since buyers are more interested in the nicer properties.
These factors can change at any time, and it is normal to see fluctuations throughout the year. But, if you have an experienced real estate agent by your side, then you can minimize the impact of the real estate market roller coaster.
You deserve to work with the best real estate company in the Atlanta area, so we invite you to contact our team at Duffy Realty of Atlanta. When it is time to buy or sell a home, we know what works! Contact us today to learn about the unique approach that we use in real estate marketing: (678) 318-1700. We hope that you liked our take on Timing and Circumstances Change Everything in Real Estate.