You can’t blame rising home prices on greedy sellers. I’ll explain why.
Who is responsible for our high home prices? Are sellers and builders just getting greedy? Let’s talk about it.
In my 20 years of real estate, I’ve never seen sellers receive the sort of offers they’re getting now. So, are sellers getting greedy? I hate to say it, but buyers are the ones who determine the price of a home. No one is forcing buyers to pay high prices; they want to. Our low inventory means competition is high, so we have an excess of highly motivated buyers.
Think about if you sold a product. Wouldn’t you want to get the highest price possible? You could set the price as high as you want, but if no one wants to buy what you’re offering, you’re either going to lower the price or take it off the market. The housing market works the same way; the only issue is, no matter how high sellers list their homes, people are still willing to pay.
With interest rates as low as they are, buyer demand isn’t going anywhere. If you are looking to sell or buy a home, please reach out to me at (704) 502-7040. I am always willing to help.
