The Real Estate Market is About To...

The real estate market is cooling off but that doesn’t mean it’s about to crash, here’s why.

I’m going to share a few indicators that will help you get a better understanding of what’s happening in the market and how you can apply that to your situation if you’re considering buying, selling or investing in real estate.

Limited Inventory

Traditionally when there’s limited inventory it’s a sellers market and buyer’s have less options to pick from and end up paying more for a house than they would if there were an abundant amount of listings to pick from.

Throughout Louisiana the amount of available houses for sale is at an all-time low and builders / developers are just now getting to where they can catch up to the demand.

This means that the market will remain in a state of limbo until inventory picks up and buyers have more options to pick from.

This is where it gets interesting.

Buyer demand is also cooling and traditionally that would mean that the price they are willing to pay for a property will also cool / go down.

But since there’s not an abundant about of inventory the prices aren’t falling as much as they normally, remaining in that state of limbo.

Should You Buy

In the shortest possible answer, it all depends. Yes if you find a good deal and plan on holding onto the property for 4-5 years. No if you are overpaying for a property that’s not worth it’s current asking price.

Should You Sell

Yes. If you’re considering selling a house, now is still a great time. Despite the fact that prices are cooling people are still paying top dollar for quality houses and are motivated to purchase because of the low interest rate.

Where’s The Market Headed

Sideways. For now the market will trend sideways until there’s a clear direction of an overall trend. This means that you should tread cautiously and make informed decisions, instead of emotionally charged ones.

This will prevent you from making a short term decision with long term negative impact.

I hope you’ve found this helpful and informative. I’m here if you have any questions about Real Estate.