What it Means to Have a Balanced Real Estate Market
The Tucson Market is Balanced ~ What does that mean for you?
If you have to move you have to move. Sometimes it doesn't matter what's happening in the housing market because you're moving because it's time. Other times, the market can certainly determine what the possibilities are.
When it is a Buyer's Market then it is usually a better time to buy because there are more homes on the market to choose from, prices tend to decline and sellers are more willing to pay concessions on the buyer's behalf.
In a Seller's Market it is a good time to sell because there are fewer homes on the market. This pushes up demand and prices. Buyers tend to be less picky and it is no longer necessary to 'sweeten a deal' by paying for buyer's costs and extras.
Now let's get to the Balanced Market, the best time to buy AND sell. For people who have been 'stuck' in their homes because of the inability to sell and cover what they paid, this market can be a chance to get out of the house. A lot more homeowners who would like to sell, will find that they can get a fair price and then also be able to purchase their next home with the equity from the sale. Because they are not underselling (like they might in a buyer's market) and they wont over pay on their purchase (as could happen in a seller's market) they will gain and lose equally on both sides. The value is in the difference between what they sell and what they will buy. That makes this an excellent time to up-size, down-size, or relocate to that part of town you've always wanted to live in.
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