What Home Sellers Should Know About the Market

Here’s what I’m keeping a close eye on in the Missoula real estate market.

Thinking of buying? Search all homes for sale on the MLS

Thinking of selling? Get a free home valuation

I was recently listening to Peter Christian on 1290 KGVO, where he was talking about running a 5k while he was running one of our ads (which you can hear at 4:25 in the video above). He was saying that as he was running around, he didn’t see any signs up in yards advertising homes for sale. It’s a pretty common occurrence. Homes are still in high demand, and there just aren’t very many on the market. That means you need someone with experience on your side to get it done, whether you’re buying, selling, or both. What are some of the things I’m watching for as an agent? Rising inventory is one. We’ve seen about 20 homes come on the market in the last week or so, but that’s nowhere near enough to quell demand.

"If you’re a buyer, now is not the time to give up."

Another thing I'm watching is rapidly rising interest rates. We’re moving into a situation where I believe we may lose 60% to 70% of the buyer pool because they'll either give up or get priced out of the market. The home-buying market has been competitive for a long time now, which is tiring a lot of buyers out. If you’re a buyer in this market, I have some encouragement to share despite the rising rates. Now is not the time to give up. These are still historically low rates even though they’ve gone up. Here’s the thing: If you’re renting, you’re paying 100% interest on someone else’s loan. There are no tax breaks. If you were to buy a home, you’d be in a much better position financially. You can take advantage of appreciation, tax write-offs, and build your net worth. If you have any questions for me, don’t hesitate to reach out via phone or email. We’d also love for you to call into Real Estate Revolution, our show on 1290 KGVO that airs every Sunday at noon. If you need anything, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.