connie vallone

So Long, Sellers: A Buyer’s Market’s on the Way

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Real Estate Investment, Selling your home on December 13, 2016 at 5:44 pm

The current seller’s market in real estate is expected to shift to a buyer’s market within three years, according to the October Zillow® Real Estate Market Reports. The shift will be fueled by slowing appreciation; according to the Zillow Home Value Index (ZHVI), home values have risen 6.2 percent in the last year to a median $191,200, a rate that will fall by approximately half by October 2017.

 “The housing market has been favoring sellers for the past few years,” says Zillow Chief Economist Svenja Gudell. “Sellers in the current housing landscape often have the luxury of listing their home ‘as-is’ without fixing it up or with only minimal window-dressing, since demand for homes has been high and inventory low. It’s common for sellers to receive multiple bids, and, in the hottest markets, sell for over asking price, but these conditions will change in the future. As the number of homes for sale increases and home value appreciation slows, we expect the market to meaningfully swing in favor of buyers within the next two to three years.”

 Experts surveyed in the latest Zillow Home Price Expectations Survey also expect the shift, either by 2018 or 2019.

 For more information, please visit www.zillow.com. RISMedia Tracking Snippet *** Do Not Remove *** End RISMedia Tracking Snippet

Reprinted with permission from RISMedia. ©2016. All rights reserved.

Do you have real estate questions?   Contact Connie Vallone at (713) 249-4177 or connie@knowsrealestate.com or visit www.houstonenergycorridorhomes.com  or  www.vallonehomes.com.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: