Its’ been another tough month for the Champaign Urbana Realty Market. We are almost three weeks into the month of January and only 77 homes for sale on the MLS have gone pending this month. In addition to that, we are still at record high inventories. As of today there are still over 1825 homes listed with local Realtors. The Realtors in Champaign Urbana are working hard to market the houses for sale, however the housing market is simply stagnant!
The real estate market is still showing signs of weakness. According to our sources, the data at the Champaign County Association of Realtors has set a record for the most price changes (reductions), for the past 6 months in a row. This is painting a solid picture of the housing market. The price that home sellers think they should be getting for their homes for sale, they aren’t getting. The houses may be worth the higher price on paper, however it is a buyers market, and the buyers are establishing the market price in today’s market.
As mortgage lenders continue to raise ladder on credit scores, less and less buyers will qualify for loans. With the local house listings at an all time high, this scenario will certainly not be of help! Hold on to your boot straps, it may be a long wait!
If you have any property that you would like to sell quickly for cash, contact Handyman Home Buyers today. You can call our office at the number above, or simply click the “Sell Your House” tab at the top of this page. Get an offer for your property emailed to you in 24 hours or less!