Many areas across the United States have seen a change in the market. There are less homes on the market, which means less competition. Buyers are now beginning to realize that the interest rates and prices will not continue to remain low. With less homes on the market, many sellers are receiving multiple offers as buyers compete for what is on the market. This is a much different market then it was a year ago.
Inventory is down over 20% compared to last year according to Realtor.com data. This is great news for some sellers who have been waiting for market prices to increase enough to sell their home and avoid a foreclosure or short sale. Now is the best of both worlds for buyers and sellers. Great time to buy … great time to sell and trade up into your dream home. Take advantage of these low rates today – we don’t know how long they will last.