This current real estate market is scary and we are probably headed for a real estate market crash. Home prices are being driven up at an astronomical rate. There is a major inventory problem. The 2021 real estate market is different from many of the other years.
It’s actually pretty interesting what’s been taking place, most of us thought it was due to the low-interest rates.
Homes are flying off the market only hours after they’ve been listed for sale. Most home buyers are trying to get a new construction property and even those properties have long waitlists for homebuyers hoping to buy a home.
If more homeowners would sell their homes, this could be softened a little bit.
The big question is, is there going to be a real estate crash? My answer is, we can’t go on like this forever. I don’t want to speculate or say that the real estate market is crashing but it’s definitely something you should be monitoring by the day to see what will happen. The current home prices will make it nearly impossible for many buyers to buy a home.
How can an agent compete in this housing market? The answer is getting listings. You must become a listing agent and put more homes on the market.
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Chastin Miles is a licensed real estate agent for eXp Realty.