I have a much higher number of Buyers right now than I did at the same time last year. This is due to a variety of reasons. Some Buyers are waiting for their current homes to sell, others are waiting for the perfect house, while others have found home that they like and feel are overpriced. The reality is that the market as a whole in the area did not get the shot in the arm that many of us expected by BRAC this spring. Therefore the market was more stagnant than what we all expected.
I know that NAR reported that contracts written were up this spring. However loan fallout was also elevated. Many of the homes that were on the market that went under contract came back on the market due to contract fall through. That made the inventory a little higher than the equilibrium when the market is at its best.
For Buyers, this all means there are deals there to be had. Write an offer if you see a house that you like, the worst that will happen is the Seller will say no. However that same Seller may come back to you a few weeks later if they really want to sell their home. A Seller cannot reject the offer that you don't make. Even if they do reject an initial offer or make a counter you do not like, the Sellers at least know that you are interested in their house and may come back around to you in time. Make the offer and see what happens, the summer heat may also produce some hot deals.
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