When is the best time to buy or sell a home?
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While buyers continue to wait, we see the pricing flat in November, after a decline July-October. As more buyers continue to explore the market, they are surprised at the high mortgage rates and higher payments.
Buyers are expecting lower home prices, but home sellers are not cooperating. Instead, many are sticking to their price or pulling their homes from the market. We might have seen the lowest home prices from August through November 2022. We will see what 2023 will bring.
If then advice
We are close to all-time high prices if you are looking to sell.
If you are looking to buy, the low inventory keeps prices stable. If you're buying a home, you could make a great deal in this market.
If you're buying a home as an investment and/or don't plan to keep at least four years, I will hold off.
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