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

August 26, 2021


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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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.