Can the Market Cycle Affect You as a Home Seller?
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The market cycle’s impact on your home sale
Understanding Market Trends for Home Sellers
Today I’d like to give you a quick rundown on the market cycle and explain how it can impact you as a home buyer or seller.
The first thing to understand about the market cycle is that there are four market possibilities at any given time. There is the bottom, an inclining need, the top of the market, and a declining call.
We must understand where we’ve been to determine where we’re going. None of us have a crystal ball, but what we can do is look at the market’s history:
In 2009, we were at the bottom of the marketplace. From 2009 to 2013, we saw a pretty principal appreciation in home values—in fact, we regained all of the losses we had previously taken from the crash of 2006 to 2009. So from 2013 to today, we’ve been pretty much at the top of the market, despite the micro-pockets in the Northern Virginia area.
The Four Phases of the Market
Bottom Market
This is where the market hits its lowest point. Properties might be undervalued, and investment opportunities abound. Historically, savvy buyers have seized this moment to make strategic purchases.
Increasing/Inclining Market
During this phase, the market experiences a gradual rise in property values. Demand begins to grow, and properties that were once undervalued start gaining traction. This is often an optimal time for sellers to capitalize on rising values.
Top of the Market
The market reaches its peak, where property values are at their highest. While there might still be pockets of opportunity, this phase is generally marked by strong demand and competitive pricing.
Declining Market
In this phase, property values begin to recede from their peak. Demand decreases, and sellers may need to adjust their strategies to navigate the changing landscape.
Why does this matter to you? We need to talk now if you’re considering selling your home in the next nine months to a year. Winter is coming, and with that comes a seasonal downshift.
Right now, it looks like that seasonal downshift is going to happen at the same time as an economic decline, so if you want to be able to reap the highest price on the sale of your property, contact me now, and I’d be happy to talk with you about what’s happening in the marketplace and how that may impact you.
In the meantime, if you have any questions about buying or selling a home, please get in touch with me by phone or email. I am looking forward to hearing from you!