Seller’s market: More demand than supply
We speak of a seller’s market when demand for real estate significantly exceeds supply – a situation you may be familiar with from previous years. As a result, prices continued to climb. Property owners benefited from a particularly profitable sale and a short marketing period.
Buyers’ market: More supply than demand
While owners are in a better negotiating position in a seller’s market, prospective buyers can look forward to a large supply and lower prices given the current buyer’s market. For owners, falling demand means a longer time to sell and more marketing effort. The reasons for the change in the market are inflation, which increases the cost of energy and construction financing and reduces the number of potential buyers.
What do owners and interested parties need to consider now?
As a prospective buyer, you may benefit from falling real estate prices, but rising interest rates make it more difficult to purchase a property. Therefore, contribute as much equity as possible to reduce the loan amount.
Are you planning to sell your property? Then you should not wait too long. Experts believe that demand will continue to decline. The price curve is flattening out, but you can still generate a good profit. It is important to present the house or apartment in an appealing way and thus stand out from the competition.
Support from an expert
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