Will buyers be able to time the market? There is always the idea that when the market dips, that buyers will know and be able to take advantage of it. However, rarely are buyers that brave. Courage is what’s required in that moment, just when everyone is screaming, running in the other direction…
Can you time the dip? (I’m sorry, maybe the worst pun I’ve ever, ever thought of)
Right now, as our market has reopened, it no longer is taking courage. It’s just taking a vision of home. And YET- the question is whether there will be another “dip,” that buyers can take advantage of! Here, I talk about my thoughts. Has that train left the station? Will it be enough to get a deal 10% below the last market peak, while taking advantage of historically low rates? Only you can decide! Or, in this case, maybe the market is telling you yes!!
For now, buyers are holding onto hope and using whatever leverage they can find to try and get the best deal. But if one buyer decides that they have sufficient buying power to move on an apartment they love, at a slightly higher price than the next person, that best deal may be no deal. Or that best deal may still be below the peak, just not where it was this time in 2020. -Scott