FOBATT – Fear of Buying at the Top!

Many brokers & associates here at Coldwell Banker Danforth are beginning to report and discuss an under current in buyer behavior which I am naming FOBATT – the Fear of Buying at the Top. Much like FOMO (Fear of Missing Out) but in reverse, it is the hesitancy or reluctance to buy now, for fear of paying too much. Although the sales statistics for Spring sales continue to show market strength, many brokers are reporting buyers asking more questions like “Are we at the Top?? Should we wait?”. Even at my recent Open Houses, I am being faced with the same questions. While I am convinced it is playing a small part in the softening of the market recently, the real culprit is much needed inventory giving buyers more choice. Armed with low interest rates, information and more choice, buyers are able to finally stand toe to toe, on even ground, with most sellers. In fact, I am suggesting to my clients, homeowners and investors alike, that it is indeed the beginning of a buying opportunity. Properly executed, with a long term strategy, those who buy now should reap great rewards in the future.