What’s Next for the Real Estate Market?
AFTER ANOTHER YEAR OF FRENZIED ACTIVITY, EXPERTS WEIGH IN ON WHAT BUYERS AND SELLERS NEED TO KNOW.
For nearly two years, the incredibly dynamic housing market has left buyers and sellers wondering what will happen next. In the absence of a crystal ball, they’ve turned to experts who’ve studied trends and crunched numbers to best guide their clients through the landscape of what’s to come.
But what will it take to chill a hot market? One word: supply. Across the board, the agents we spoke with want to see more listings come online to satisfy the people still hungry to make a purchase.
“Throughout the pandemic, we were down to about one week of inventory in our entire market,” says Tracy Kasper, Broker/Owner of Berkshire Hathaway HomeServices Silverhawk Realty, serving Idaho’s Boise Valley and Sun Valley. “Six months is what we consider a balanced market. We’re watching it and, finally, it’s settling down. In the broader market, we’re up to about a month of supply, but in the luxury category, we’re at around four months of inventory. We still have a robust buyer pool, but buyers have a little more to choose from.”
To gain a greater perspective on what’s happening across the United States and globally, we spoke with real estate experts about what they expect from the months ahead. Their insights serve as a jumping-off point for anyone looking to navigate the market.
