The residential real estate market in 2024 will eventually begin to shift much more towards a buyer’s market than a seller’s market, and more and more homes for sale will be coming off the market unsold.
As interest rates keep increasing and other things change in the world (war, inflation, uncertainty in employment, etc), homes on the market that aren't selling will be much more prevalent.
When a property is listed for sale and doesn't sell during the listing contract, it is known as an expired listing.
So how exactly is a buyer’s market or seller’s market determined? 
Without getting into too many details, a buyer's market has more than six months of inventory based on closed sales. 
A seller's market is also known as having less than three months of inventory based on closed sales, and a neutral (or balanced) market is defined as three to six months of inventory based on closed sales.
The bottom line is that it will get harder for sellers to sell their homes. 
Here are the top ten reasons why homes don’t sell and also what to do to get your home sold.
https://www.allinmiami.com/blog/Top-10-Reasons-Homes-Dont-Sell-and-How-to-Avoid-Those-Mistakes
 
If you want to sell a home or buy a home here or anywhere else in the world, our team would love to help you get to your next destination.
 
Amit Bhuta
COMPASS
ALL IN Miami Group
Licensed Real Estate Agent
 
(305) 439-3031 Mobile
[email protected]
ALLinMiami.com

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