Mid-Summer Market Update: What Drives Today’s Market?

By Travis Bard

We have a simple goal - impact the lives of our clients and change the lives of our agent partners. The PLACE.com business platform allows us to do both and we could not be more excited about the future.

What is happening in our mid-summer market? Let me give you a short update on the latest real estate news. There are two main factors driving the market today: interest rates and uncertainty. There’s a lot of hesitation among buyers, and sellers are concerned about selling their homes when they don’t know where to move next. In some cases, it’s what we call “golden handcuffs”—they’re locked into a 2% to 3% interest rate on their current home, and it doesn’t make sense for them to move and replace that mortgage in the current market.

On the bright side, inventory levels are higher than we’ve seen in the past four years, meaning there are plenty of homes available on the market. We are still in a seller’s market, with typical marketing times of around two to three months. However, I’ve seen homes sell much faster with the right strategies.

We believe that it’s important to take a personalized approach. Let’s sit down together and discuss your specific situation. We will examine your home, create a strategy, and develop a pricing plan that makes sense for your property and the current state of the market. There is no one-size-fits-all answer in real estate—every situation is unique. The best thing we can do is meet and discuss.

I’m excited to have the chance to help you with your real estate goals. Feel free to reach out to us by phone or email. You can contact me at (928) 710-7007 or send me an email at travis@legacyren.com. Let’s see how we can best assist you.