We’re in record territory, price-wise, so it’s no surprise that buyers are being hesitant. Sellers who have been unsuccessful will shrug off the second half of 2018 as a ‘bad’ market, and try again next spring with the same enthusiasm.
Will buyers shrug it off too? Yes, if they find the perfect match – that is the Rancho effect, where sellers and buyers just wait for miracles.
We’ve seen how consumers just want to push a button to buy or sell now, which should make buyers more conservative – they are operating with skimpy evidence and are reluctant to seek help, so expect more wait-and-see.
In other words, it’s probably not going to get any better than this, and we can expect more sluggishness during the next selling season too.