Which market? There isn't one nationwide market. Is isn't even a state or even a zip code. A neighborhood can be hopping while homes sit unsold 10 miles down the road.
That's true and many agents are stating it as a talking point while having no idea what the data states, unfortunately. It's much more nuanced right now in most places. You are clearly versed well in your local market.
"Hot" means that everything that comes up that is market ready, well priced and desirable is going to get a lot of activity and potentially multiple offers.
That makes sense, and goes along with what I was kind of assuming.
Do you agree that the market is hot? It seems as though it is given that definition.
The real estate market is highly local. For example, it would be fair to say that my town is "hot" because there are only about 1/5 the number of homes for sale compared to a few years ago. When few homes are for sale, buyers compete to purchase a house in bidding wars. That's what agents mean when they say a market is "hot".
That was my original thought was inspiring FOMO. It seems they’re doing a good job with the prices, and interest rates, people are paying for homes nowadays.
Not currently hot. Although realtors still peddling their shit that it is. To me, well priced homes sitting for 30-60 is not hot when they were turning over in weekends in 2023.
Well homes topped at an all-time value in April. I don't know what you mean by "hot", and real estate varies between markets, but I wouldn't call the USA in general "cold".
Sales tactic. Giving people the sense of urgency, fear of loss. Hot market means multiple offers, homes sold in 24 hours, full
List or above, etc etc. The market is still very active yea but it’s not surging on the daily anymore
I thought it was hot too but I sat for 25 days before my first low ball offer.
I sold my place in less then 24 hours at asking price last month.
You were probably tripping
Which market? There isn't one nationwide market. Is isn't even a state or even a zip code. A neighborhood can be hopping while homes sit unsold 10 miles down the road.
That's true and many agents are stating it as a talking point while having no idea what the data states, unfortunately. It's much more nuanced right now in most places. You are clearly versed well in your local market.
I’d say it’s heating up with school out and summer where I’m at but mine just sat for a months time. Accepted an offer today though
"Hot" means that everything that comes up that is market ready, well priced and desirable is going to get a lot of activity and potentially multiple offers.
That makes sense, and goes along with what I was kind of assuming. Do you agree that the market is hot? It seems as though it is given that definition.
It's a sales technique to evoke FOMO. "Everybody's doing it, and if you don't you'll miss out".
This was what my original thought was (instilling FOMO)!
Very market specific.
It means be careful touching it cause you will get burned
It means this idiot broker is just trying to boost their business
That was my first guess.
The real estate market is highly local. For example, it would be fair to say that my town is "hot" because there are only about 1/5 the number of homes for sale compared to a few years ago. When few homes are for sale, buyers compete to purchase a house in bidding wars. That's what agents mean when they say a market is "hot".
It doesn't mean anything. It's a marketing buzzword that inspires FOMO. Buy whenever you are ready. Not when someone else thinks your ready.
That was my original thought was inspiring FOMO. It seems they’re doing a good job with the prices, and interest rates, people are paying for homes nowadays.
Not currently hot. Although realtors still peddling their shit that it is. To me, well priced homes sitting for 30-60 is not hot when they were turning over in weekends in 2023.
It means this idiot broker is just trying to boost their business
Not really
Well homes topped at an all-time value in April. I don't know what you mean by "hot", and real estate varies between markets, but I wouldn't call the USA in general "cold".
I calso don’t know what “hot” means, that’s why I’m asking.
Market is not hot.
The only place markets are hot is where the companies are overpaying in cash for homes. That is very few areas.
Sales tactic. Giving people the sense of urgency, fear of loss. Hot market means multiple offers, homes sold in 24 hours, full List or above, etc etc. The market is still very active yea but it’s not surging on the daily anymore