A famous real estate agent named Josh Altman talked about the latest trends in the housing market on a recent show of "Last Call," which was hosted by Brian Sullivan. Altman brought up a big change: houses are staying on the market longer than they used to. This change has an impact on the whole real estate business, affecting sellers, buyers, agents, and investments.

The Changing Dynamics of the Housing Market.

Josh Altman, who is known as a top upscale real estate agent, talked about why sales of homes are taking longer than expected. Altman says this trend is caused by a number of things.

The Economic Uncertainty

"With economic uncertainty, buyers are more cautious," said Altman. "They're taking their time to make sure they make the right decision, which means houses are staying on the market longer."

Higher interest rates

Another important factor is that interest rates are going up. When the cost of borrowing money goes up, it becomes more expensive for buyers to finance their purchases. This makes some buyers delay their choice or think about their other options.

The Overpriced Listings

Altman pointed out that some sellers have skewed ideas about how much their home is worth, which can cause them to list it for too high of a price that doesn't draw buyers. "Sellers need to be more realistic about pricing if they want to move their properties quickly," said he.

Expert Insights From the Real Estate Industry

Market times that last longer aren't just happening with expensive homes. Real estate experts from a range of market segments have made similar findings.

The trend has also been seen by Orlandosellnow, a company that buys homes quickly in the Orlando area. "We're seeing more homes that stay on the market for longer periods of time." A representative for Orlandosellnow said, "Sellers are becoming more open to quick sales to avoid the long wait."

Similar thoughts were shared by Cy Buys Houses in Richmond, who said that their business model of buying houses for cash is becoming more and more appealing to buyers who want to avoid the risks and delays of traditional sales. A Cy Buys Houses representative said, "Many homeowners don't want to deal with the long process and would rather have a quick, guaranteed sale."

The Impact on Buyers and Sellers

Both buyers and sellers are finding the longer market times to be very different. It could give buyers more bargaining power and give them more time to make a choice. It may mean that sellers need to change their plans and assumptions.

A company called Momentum Acquisitions that buys houses in Columbus stresses how important it is to set prices that are fair. "We tell buyers that they should set prices that are competitive. "Overpricing can cause the market to last longer, which can lead to fewer offers," Momentum Acquisitions said.

Turner Brother's Real Estate, a company in Waco commercial real estate, has also seen the change. "We tell our clients to wait and give all offers serious thought." Turner Brothers Real Estate said, "The market is different now, and being flexible can be key to making a sale."

Strategies For Navigating the Current Market

It takes both strategic thought and flexibility to get around in a market where homes stay on the market longer. This is advice for both buyers and sellers:

For Sellers: Change how you set your prices

Pricing your home right from the start is one of the best ways to make sure it sells quickly. Do a full analysis of the market and think about setting a price that is competitive. Using this method can help you get more possible buyers and sell your home faster.

Buyers should take advantage of the way the market is right now.

Buyers have more chances to get better deals when homes are on the market for longer. Do not make a purchase right away. Take the time to carefully look at properties and discuss terms that are good for you instead.

For Both: Hire professionals with a lot of experience

Having an experienced real estate agent or company on your side can make a big difference whether you're buying or selling. In this market, people like Josh Altman and businesses like Orlandosellnow, Cy Buys Houses in Richmond, Momentum Acquisitions, and Turner Brother's Real Estate know how to do things right.

The Future of the Housing Market

The move toward longer market times may bring some problems, but it also opens up some chances. The market is always changing, and people who can change will do well. As the economy stabilizes and interest rates change, the market may go through changes that could make the current trend worse or better.

On "Last Call," Altman said, "Markets go through cycles." "The current stage is only the beginning." Buyers and sellers should keep up with the market and be ready to adjust to new conditions.

To sum up, the current state of the housing market, where homes are taking longer to sell, is complicated and is affected by many things. Both buyers and sellers can make it through this tough market if they understand these factors and work with professionals who do. No matter if you're in Orlando, Richmond, Columbus, or Waco, the best way to reach your real estate goals right now is to stay informed and flexible.