What’s Going on in the Real Estate Market This Summer?

By Greg Smith

BoulderHomeSource represents the region’s finest properties with exceptional skill, using the most innovative technologies currently available. BoulderHomeSource offers ultimate privacy, security, speed, and efficiency. The team’s years of full-time experience have given them a clear understanding of the mindset of home buyers and sellers and a thorough understanding of the regional marketplace.

I get a lot of questions asking what’s going on in the real estate market. There is no simple answer to that. It all depends on the price range and specific area you are interested in. But to answer the question, let me focus on three factors affecting today’s market.

1. National elections. You might not think that the elections would impact home sales, but based on historical data, the market tends to slow down leading up to Election Day. There’s no clear reason why, other than people feeling uncertain during this period. The market typically picks up once the results are in, no matter who wins or what happens during that day.

2. Affordability. This remains a crucial factor across nearly all price points. Lower-priced homes are more affected by higher interest rates, resulting in higher monthly payments. For higher-priced homes, potential buyers lose more money by investing in real estate instead of high-yield savings or money market accounts.

3. Pricing and condition. With more options for buyers and homes sitting on the market longer, it’s important that your home is show-ready and in great condition. Make sure all minor maintenance items are addressed so your home truly stands out. This is the same with pricing. You want to make sure that your pricing is competitive with comparable sales in your area. You want your home to have the best value in your neighborhood.

I love talking about real estate and answering your questions. Feel free to give me a call at (801) 560-9929 or send me an email at Joe@BoulderHOmeSource.com. I’m here to help.