Is it a Buyers or Sellers Market?
Dave Robles from Think Real Estate here, after 28 years in this business, I've seen a lot of ups and a lot of downs. I've seen buyer markets where buyers have a pick of the litter and they can negotiate prices down where they want it. And then I've seen seller markets where buyers have no choice of home and houses are selling for way over the asking price.
So conventional wisdom would say that this might be a seller's market, right? Maybe, maybe it's a third kind of market. I think this is right now a great move up market. If you've lived in your home a few years, even as little as two years back, one year, in some cases you can sell that home, make a really good profit and move on to your next home. Because interest rates are so incredibly low right now that you're going to get a fantastic loan on your purchase. And most people are saying we are not at the peak of this market yet.
So there is still some upward appreciation that's going to take place next year 2022 and possibly into 2023. So there's still time to get that appreciation from your next home because this is a move upmarket people.