How to decide if you should buy or sell in the current real estate market
When you’re thinking about buying or selling a house, there’s a lot to consider. Sometimes it’s urgent to sell your home if you need to move. Or maybe you simply need more space and decide to upsize. But is Pflugerville a buyers or sellers market right now?
This is a key question you should answer before you list or make an offer on a home.
In the last few years, real estate markets across the country have been on fire. Everything was selling, inventory was low, and buyers were everywhere. As of 2022, that’s starting to change. Currently, markets are softening nationally. This trend is of course less prominent in the Pflugerville Texas area, which has benefited by rapid growth.
A recent report from the National Association of Realtors showed that pending home sales around the country dropped in the last few months. But what does that mean for you in the Austin area around Pflugerville?
What’s a buyers market versus a sellers market?
To help you understand your real real estate options, here’s the difference between a buyers and sellers market.
A buyers market is when conditions move in favor of buyers. This can mean a lot of things, but a huge indicator is supply. When the supply for homes is greater than demand, it’s a buyers market.
On the other hand, a sellers market shows conditions that favor sellers. This often means low supply and high demand. When sellers have many offers, they’re in the advantage for negotiations.
Before you make any real estate transactions, you want to know if you’ll be at an advantage. So, is Pflugerville a buyers or sellers market?
Is Pflugerville a buyers or sellers market?
Like much of the country, supply in Pflugerville is not immune to national trends where supply is growing and demand is decreasing. But the whole economy is currently quite volatile and there are still pockets of explosive growth in parts of Texas. Regardless, market conditions have changed quickly in just the last few months.
Part of the shift from a sellers market to a buyers market is rising interest rates. Rate hikes from the Fed have pushed mortgage rates as high as 7%. These changes in the larger economy are making it more difficult for buyers to afford a home.
So, overall, even though supply is up, there are also fewer buyers in the market. For this reason, you may get different answers about if Pflugerville is a buyers market or sellers market in 2022. Realtor.com shows the market heavily favoring buyers, which is great in an area that many have flocked to in the past few years.
Rocket Homes shows a different story. According to this source the market is neutral. Not favoring buyers or sellers. Movoto considers the current climate favoring sellers more than buyers However, most experts agree that Pflugerville will continue to move in favor of buyers in the near future.
Buying a house in Pflugerville
If you want to buy a house in Pflugerville, this is a pretty good time to start house hunting. Supply is increasing and you’re more likely to find a home that you love.
Plus, if you’re looking for exclusive, off-market deals you won’t find on the MLS, you have options. Make sure to check out Your Home Sold Guaranteed Realty TX-The Salas Team deals that are coming soon. You’ll see some of the best properties coming on the market. You can even search based on your own criteria.