Wait-Buyer AND Seller Market at the SAME TIME? Heres Why-

How Can It Be??!! You Cant Have Both!  ...or can you?

First, what is the definition of a sellers market?  There are differing views, but some say when inventory of houses on the market is less than 6 months.  Meaning, at the current rate of sales, how much time would the amount of houses take to close that are on the market currently.  6 months!  I cant remember a time when Houston had 6 months of inventory on the market.

Also, disclaimer, this is FOR SURE a sellers market.  Here are the reasons:

• Inventory Shortage (lowest on record)
• Inventory down to 1.5 months

So, by all accounts, yes this is a sellers market.

BUT

What is making all these buyers come out and buy houses if they know its a sellers market?  Well, because it is also a very good time to buy a house as well.  Here are those reasons:

• Lowest mortgage interest rate in history
• Housing affordability is surprisingly high
• 2008 financial crisis isnt repeating *see below
• Inventory shortage creating the demand isnt slowing down

*Is this 2008 all over again?  NO!

• Lending standards are much more strict
• Foreclosures that hit in 2008/2009 came on the already depressed market making matters worse
• Equity-homeowners are NOT underwater like they were in 2008
• Appreciation-Massive numbers in the last year (10%+)

If you are in the market to make a move with real estate, dont be left on the sidelines.  Its an amazing time to own property, and an amazing time to sell as well!