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Human Nature’s Impact on Real Estate – Tom’s Take 357

Real estate analysts are missing one key ingredient when looking at the marketplace, and that’s human nature will often override almost every market condition.

Analysts often overlook human behavior in real estate. Numbers matter, but life events, like twins on the way or health issues, drive moves. The lock-in effect is fading, with a notable increase in listings. Suburbs show 15-19% growth, Philadelphia at 0.5%. Sellers are entering the market, fueled by pent-up demand from 18 months of rate-focused waiting.

Sellers and buyers, take note. Inventory is growing, but some miss it. Agents, ask the right questions. Buyers, share your needs; explore different areas. Savvy consumers plan ahead. If you feel stuck, it’s time for a strategy session with a great agent. Good news: more homes in 2024 benefit buyers and sellers. Choose an agent who guides you to a strong financial decision.

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