Happy Halloween weekend! Don’t forget that it’s our Annual Pumpkin Carving Contest! The rules are really simple and the winner will get a $100 gift card to a restaurant of their choice. Send us a photo of your pumpkin and go here for details and rules.
Check out our October National Thing of the Day (and Market Update) video as we celebrate National Pumpkin Day (lots of dad jokes!)! We also have a quick market update for you. Skip to the last minute or so for a quick Market Update or check out the Market Info graphic and stats at the end of this email.
Here is your market update for October, 2021. As always, let us know if you have questions!
The market continues to send mixed signals. Here’s what we’re seeing:
Demand is still strong, with a solid presence of non-owner occupant buyers.
The iBuyers have eased up on their buying spree, with Zillow announcing this week that they have put a pause on purchasing through the end of the year.
iBuyers as a whole are holding onto a decent amount of inventory; those homes would be a welcome addition to the tight supply.
iBuyers “bought high” in Q1 & Q2, so it may take some time before those homes can be sold without a loss.
Of the homes that iBuyers have put out into the market for sale, many have had price reductions, and/or have sold for less that what they purchased for.
The next few months will be interesting!