More Than 75% Of Experts Predict Sellers Market Will Continue
Thanks to a historic inventory crisis, rising home prices, and stiff competition for property, the vast majority of markets across the US currently favor sellers. And according to most experts, it looks like that trend is going to continue.
According to a recent survey from Zillow, 76% of experts surveyed said they didn’t expect to see national market conditions shift from a seller’s market to a buyer’s market until 2020.
This is obviously good news for sellers—but it doesn’t mean you should wait until 2020 to put your home on the market. According to recent Zillow data, the rate of home appreciation is slowing in markets around the country, and as a result many sellers are having to slash their home prices in order to sell (according to Zillow’s data, 14% of all homes on the market had a price cut in June 2018).
If you’ve been thinking about selling your home, now is the time to make a move. While most experts predict conditions will remain favorable for sellers through 2020, according to current data, conditions aren’t likely to be as favorable over the next few years as they are today.