The real estate market activity continues to be slow, however there is a market. Comparisons to the fevered pitch during the peak of the market are not realistic and both buyers and sellers should get used to the idea of a more measured pace. This is a return to a more normal market.
The market will rebound in the long run, as population growth in the United States will push demand. Meanwhile, people will continue to buy and sell real estate. There’s always a real estate market and right now is a great time to buy, because prices are down, favorable negotiations are possible and rates are still low. However, inflationary fears will cause rates to rise in the near future which will affect purchasing power, so don’t wait to long to buy.
How do you know when the market has bottomed out? When it starts moving back up and by then you’ve missed the bottom! Don’t be a bottom watcher. Take advantage of current good buying conditions.