Home buyers less willing to compromise in slow market

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Even though the home-sale market is slow, some listings sell quickly. Others don't. What accounts for the difference? The volume of homes sold is down as much as 20 percent or more in some areas compared to a year ago. Concurrently, the listing inventory has increased 40 percent or more in some markets. The odds of having a quick sale decrease when lower sales volume is combined with more listings of homes for sale. In this kind of market, buyers have a lot of choice. The sense of urgency to buy is less. If buyers don't see exactly what they want, they are happy to wait until the right house comes along. To sell in this market, you need to be realistic about the market dynamics in your area. And, you need to be brutally honest with yourself about the positive and negative features of your home. It's useful to consider the features of listings that sold recently in your area. In a low-inventory seller's market, most listings sell. The best houses sell faster, often attrac...