What's Trending!?

May 20, 2024

By Isabel Guzman, Realtor®

Video Transcription

In a world where the only constant is change, the real estate market is no exception. Hi, I'm Isabel Guzman, broker associate and realtor with eXp Realty. I'm here to help you navigate the waves of this dynamic market. Lately, we've seen a market that's both unpredictable and brimming with opportunities. Whether you're buying, selling, or investing, understanding these shifts is crucial.

As you might have guessed, real estate is cyclical, with fluctuations that directly impact property values, investment returns, and overall market activity. So, what drives these changes? During boom times, property values soar, fueled by strong demand, limited inventory, and economic growth. Financing becomes easier too, with lenders offering attractive terms and incentives to encourage more buying.

But what happens when the market cools down? Property values may decrease due to oversupply and reduced demand, influenced by broader economic conditions. This often leads lenders to become more cautious, tightening credit and making it tougher for buyers to secure loans. Currently, on a national level, we're observing trends that favor both buyers and sellers, indicating a shift towards a more balanced market with a slight improvement in affordability.

However, locally, it can be different. Remember, the real estate market can vary greatly by location, so it's essential to consult with a local expert for the latest market prices and inventory updates in your area. Please don't hesitate to reach out—I'm Isabel, bringing you home.