Since the onset of the pandemic a year-and-a-half ago, sellers have been a lot like the Los Angeles Dodgers – they’ve been consistently coming out ahead. Meanwhile, buyers have been a lot like the Arizona Diamondbacks – they can’t seem to catch a break. However, during the week of September 12, 2021 to September 18, 2021, buyers are about to put a much needed win on the board; experts are predicting that nearly 100,000 new homes will go on the market that week.
Unless you’ve been living under a rock, you already know that record low inventory, record low mortgage rates, and record high demand have combined to create a perfect storm for sellers; home prices have been skyrocketing during the pandemic despite initial concerns that the housing market would collapse. During the week of October 3, 2021, to October 9, 2021 experts predict that nearly 100,000 homes will be placed on the market. Moreover, these homes will come at a lower sticker price since this is the time of year where sellers seek to relocate before the new school year.
The timeline is slightly different for major metropolitan areas, as experts believe the bulk of homes will go on the market between September 12, 2021, and September 18, 2021. While this bodes well for buyers, the Black Friday of home sales will be equally ferocious; prepare to do battle with other would-be home buyers.
At the Chernov Team we understand that knowledge is power, and knowledge of how the market’s winds shift is powerful knowledge indeed. At the Chernov Team we know that whoever comes to the table most prepared leaves with the most, and the Chernov Team always leaves the table with the most.