The anticipation is high here in the West Michigan area concerning new home sales. With the inventory is at or near it’s lowest point (in some time) now is truly the time to get out there and find the home of your dreams. As you may or may not be aware home prices have skyrocketed and the demand is still strong. I have been approached by several clients needing to move up to the home(s) of their dreams so the point of this discussion is looking for inventory of existing homes in the cities surrounding the Grand Rapids Metro area.
Being in this industry for the past 30 years now it looks like the frenzy has started and there may not be an end in sight. Home(s) that used to take weeks to sell are now down to day (a few) and sometimes just hours. People (buyer’s) are getting frustrated because they are being outbid at every turn. What we need is more inventory in the resale market so people can get into their first home as those seller’s move up to larger homes or in some cases they want to scale down as their children have moved out into their own places. I’m looking at this Spring market to be a great year to sell real estate and to forge new relationships along the way. It doesn’t hurt that rates are still below 5% and lenders themselves are being competitive to gain the business. As professionals our first order is to be an industry of people full of integrity as we deal with the public. We need to gain the public’s trust (one transaction at a time). So in closing what are your thoughts on the market? It’s always smart to hear a perspective on the state of the market from the people we serve.
Comments(0)