First Time Home Buyers
First time home buyers win on the latest Existing Home Sales report. The reason is very simple: We’re going on nearly a year where the housing information was generally positive. We’re hearing more about multiple offer situations and seeing more competition for the most desirable homes.
Sellers nationwide have been hearing that their market was hot and it has reduced some of the negotiation power for the buyer. For the first time in months, sellers received moderately bad news.
December’s Existing Home Sales Report dropped a staggering 17% and fell to a 4-month low. Sellers just became more negotiable.
In reality, the plunge was expected. November’s Pending Home Sales report forecast part of the slide. Further, the $8,000 federal tax credit pushed many would-be December buyers into November. In reality, November wasn’t “as good” as the data indicated, nor was December “as bad.”
Still, in the game that is negotiating the best price on your home, these little blips on the radar can be great news for buyers.
If you enjoyed this article, please consider sharing it!
