After a long two years, people wonder has the market shifted in favor of buyers? – at least in the DC area. All during COVID, finding a home has been challenging as bidding wars pushed offerss well over the asking price. It’s been hard for buyers but every market eventually rights itself and then swings in the other direction. Now, it appears that in certain areas, the market pendulum might slowly but surely be swinging back in a buyer’s market direction. It is not a buyer’s market yet, but the momentum has shifted.
In order to discern a shift, however small, from a seller’s to a buyer’s market in your area, let’s first take a look at what defines those buying/selling environments.