The biggest question I am hearing today is: Is the housing market softening or is it Normalizing? Lets take a look at some numbers. I would attest to you that it is nomalizng. You know 2021 was a record year that probably won't be duplicated in our lifetime. As you can see the market this years is producing 25% fewer sales than it did in 2021 and 10-15% less volume depending on where you are in Palm Beach County. The relevant question however isn't what the sales activity looked like in the anomaly year 2021, but where are we compared to those normal years of 2018 and 2019. You know when we look back at Dec 31st 2018 and 2019 we were celebrating as those were healthly normal years for real estate. Those years should be the benchmark years we compare how the state of the market was not the anomaly year of 2021. But whats on the minds of buyers and sellers is "Are Prices dropping? Numerically they are not however iti feels that way because list prices are adjusting to levels we would see in a more normal market. That's because mmoderating demand is slowing the pace of home sales and that's one of the reasons housing supply is finally able to grow. For sellers this means pricing more competitively and for buyers it means having more options to choose from. So rather than seeing a softening we are just seeing the market normalizing. I'm Judy Ballard with Illustrated Properties and Christies International Luxury Marketing Specialist. If I can hhelp in any way with your Real Estate needs, always feel free to reach out to me. And as always make it a great buying or selling day. The biggest question I am hearing today is: Is the housing market softening or is it Normalizing? Lets take a look at some numbers. I would attest to you that it is nomalizng. You know 2021 was a record year that probably won't be duplicated in our lifetime. As you can see the market this years is producing 25% fewer sales than it did in 2021 and 10-15% less volume depending on where you are in Palm Beach County. The relevant question however isn't what the sales activity looked like in the anomaly year 2021, but where are we compared to those normal years of 2018 and 2019. You know when we look back at Dec 31st 2018 and 2019 we were celebrating as those were healthly normal years for real estate. Those years should be the benchmark years we compare how the state of the market was not the anomaly year of 2021. But whats on the minds of buyers and sellers is "Are Prices dropping? Numerically they are not however iti feels that way because list prices are adjusting to levels we would see in a more normal market. That's because mmoderating demand is slowing the pace of home sales and that's one of the reasons housing supply is finally able to grow. For sellers this means pricing more competitively and for buyers it means having more options to choose from. So rather than seeing a softening we are just seeing the market normalizing. I'm Judy Ballard with Illustrated Properties and Christies International Luxury Marketing Specialist. If I can hhelp in any way with your Real Estate needs, always feel free to reach out to me. And as always make it a great buying or selling day.
The biggest question I am hearing today is: Is the housing market softening or is it Normalizing?
Lets take a look at some numbers. I would attest to you that it is nomalizng. You know 2021 was a record year that probably won't be duplicated in our lifetime. As you can see the market this years is producing 25% fewer sales than it did in 2021 and 10-15% less volume depending on where you are in Palm Beach County.
The relevant question however isn't what the sales activity looked like in the anomaly year 2021, but where are we compared to those normal years of 2018 and 2019. You know when we look back at Dec 31st 2018 and 2019 we were celebrating as those were healthly normal years for real estate. Those years should be the benchmark years we compare how the state of the market was not the anomaly year of 2021.
But whats on the minds of buyers and sellers is "Are Prices dropping? Numerically they are not however iti feels that way because list prices are adjusting to levels we would see in a more normal market. That's because mmoderating demand is slowing the pace of home sales and that's one of the reasons housing supply is finally able to grow. For sellers this means pricing more competitively and for buyers it means having more options to choose from.
So rather than seeing a softening we are just seeing the market normalizing.
I'm Judy Ballard with Illustrated Properties and Christies International Luxury Marketing Specialist. If I can hhelp in any way with your Real Estate needs, always feel free to reach out to me.
And as always make it a great buying or selling day.
