Week over week compared to last year, showings were 30% of what they were last year same time. When it rains, this is a common outcome, so we will watch the next two weeks to see if showings are truly down, or if the weather played a factor. What started the whole slowdown last year was Hurricane Harvey and the distraction it had on the housing market for 3 weeks. That allowed inventory to pile up and start a shift in our market, even though we weren’t the ones flooded. As a Seller, pay attention to traffic and offers or lack there of and adjust condition or pricing if you aren’t getting the results you want.
Buyers are becoming sensitive to design aesthetics and Sellers are starting to listen more. Within the last 30 days, we have felt a definite shift in Sellers being willing to engage in dialogue with Buyers and work together towards a win-win. Does this mean Sellers are giving away the farm? No. This does mean that we are moving towards a more balanced market where both sides are working towards agreement. A great place to be – although we know it never lasts forever.
If you’re interested in investing, we always find our best deals from October – March. Solds and under contract properties were down last week, as were new properties put on the market, so inventory is slightly up as a reflection.
We’re coming across great properties daily and are aggressively working for our Sellers to be in tune and on top of the market. Keep us in the loop if you have any needs or changing priorities for us to watch.
Seychelle & team