3 Positive Trends for Home Buyers! #shorts #houstonrealestatemarket #homebuyingtips

3 Positive Trends for Home Buyers! #shorts #houstonrealestatemarket #homebuyingtips

If you've been trying to buy a home over the past two years, here are 3 trends that are good news for you.

1. More Homes To Choose from
During the pandemic, housing supply hit a record low at the same time buyer demand skyrocketed. This combination made it difficult to find a home because there just weren’t enough to meet buyer demand. According to Calculated Risk, the supply of homes for sale increased by 39.5% for the week ending October 28 compared to the same week last year.

2. Bidding Wars Have Eased
One of the top stories in real estate over the past two years was the intensity and frequency of bidding wars. But today, things are different. With more options, you’ll likely see less competition from other buyers looking for homes. According to the National Association of Realtors (NAR), the average number of offers on recently sold homes has declined. This September, the average was 2.5 offers per sale. In contrast, last September, the average was 3.7 offers per sale.

3. More Negotiation Power
Over the last two years, more buyers were willing to skip important steps in the homebuying process, like the appraisal or inspection, to try to win a bidding war. But the latest data from the National Association of Realtors (NAR) shows the percentage of buyers waiving those contingencies is going down.

As a buyer, this is good news. The appraisal and the inspection give you important information about the value and condition of the home you’re buying. And if something turns up in the inspection, you have more power today to renegotiate with the seller.

A survey from realtor.com confirms more sellers are accepting offers that include contingencies today. According to that report, 95% of sellers said buyers requested a home inspection, and 67% negotiated with buyers on repairs as a result of the inspection findings.

Any Questions: Reach out NOW 281.610.6826 | david.janssen@compass.com

David Janssen is a top producing Houston Area Real Estate Broker, a Residential, New Home Construction and Relocations specialist with Compass serving the Greater Houston communities. Allow me to sell your home for more in less time using modern marketing tactics, or allow me work with you in pursuit of your new home.

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*Most stats and data mentioned came from the following sites and are not based on our opinions:
Best Schools: https://www.greatschools.org/texas/Houston/
More About Houston: https://en.wikipedia.org/wiki/Houston
Census Data: https://www.census.gov/quickfacts/fact/table/houstoncitytexas,US/PST045221
Neighborhood data: https://www.niche.com
**All stats, data, house pricing, and anything else mentioned is always subject to change and is provided merely as an example at the time of this recording*
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David Janssen Realtor | Texas Real Estate License: 608856
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www.sellinghouston.com

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