Quietly, under the radar, like the British sneaking under the guise of that fateful night in Massachusetts, until Paul Revere alarmed the dwellers of his hometown - and I wish I could with same certainty alarm the dwellers of my hometown that "the buyers are coming, THE BUYERS ARE COMING!!" - but I can't. Because sellers are coming. And buyers - well - they are few(er).
While we were celebrating the first day of summer with one eye patriotically peeking towards the 4th, the market took a swing to favor the buyer! Summer is always a great time to sell real estate because everything looks so lush and green and it's a perfect time for families to make that move before school again captures their kids for yet another school year. But overwhelming inventory can be hurtful to the sale of a property because it means that sellers are suddenly competing with all of the other sellers - trying to get their home the most attention from buyers in this hyperactive market.
In June, Cobb County homes coming onto the market have outpaced homes that have sold - opening up the gap by 988 properties - meaning that homes being listed increased by 32% while homes being purchased have dropped by 22% from the previous month of May.
Although it's too early to tell if such a swing in the market is here to stay - for how long, if not for the rest of the summer - and whether it can be attributed to buyer purchasing mood or changes in lending criteria becoming generally tighter, more challenging, and more expensive to borrow. Over the next quarter the trend will become clearer and supported by more information, but for now know that it's a buyer's market and you're in a good negotiating position by being a buyer.
The graph above can be used to see when is the best time to buy and sell real estate by observing the global trends of inventory behavior and the direction in which the trends point - whether moving up, down, and how aggressively or steadily they do so.
To get more specific and granular information like this about your kind or type of property of interest, you can contact me for a custom market study that will include information that will address your specific need.