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Reali Roundup: 🐶 Is the housing market going to the dogs?

August 26, 2021

1 MINUTE READ

The dog days of summer may be here, (and it’s National Dog Day today) but you might be surprised to learn the housing market could be headed for a cool off.

Today’s competitive housing market was one result of the COVID-19 pandemic. Low housing supply, lockdowns, and homebuyers’ desire to leave cities for more affordable towns offering more space sent demand into a frenzy. However, the market hasn’t gone to the dogs just yet.

The California Association of REALTORS® is reporting that new property listings have increased in recent months and that home prices may finally be normalizing — suggesting that the state may start cooling later in 2021 and into 2022.

What’s more, across the country, we’re seeing prices start to reverse their climb, upticks in inventory, and less frequent bidding wars. Moral of the story? Buyers who have been dog-tired of this seller’s market may begin to see some relief.

While it’s unlikely we’ll see a full-on buyer’s market anytime soon, favorable mortgage rates and a cooling market make the perfect combination for buyers who may have been sitting on the fence.

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Good To Know

Homeownership Accelerated Among Young Millennials During the Pandemic

Despite financial and pandemic-related setbacks, millennial buyers emerged as the fastest-growing buyer segment, driving more than three-fourths of home sales.

Fewer First-Time Homebuyers Are Competing These Days

After a year of extremely tight housing inventory, the housing market is showing signs of finally adding housing stock.

5 Tips to Get You in Credit Worthy Shape Before Buying a House

Don’t let credit be the issue that stands in your way of owning a home. Here are five tips to help you beef up your creditworthiness before making a purchase.

6 Home Improvements to Help Sell Your Home for Top Dollar

Not all remodeling projects are created equal. Learn which home improvements are most likely to provide the highest return on investment and increase your home’s resale value.

We know the housing market can be full of ups and downs, but we’re in a unique period where crazy low mortgage rates and supply make the market interesting for both buyers and sellers.

Don’t sit on the sidelines! Whether you’re thinking about buying or selling your home and moving to the next — we can help. Every dog has its day! So, let’s get the conversation started.