The big question this year, is how many buyers can we get into one open house at a time? The real estate market in most of the country's major metropolitan areas has shifted sharply back to a seller's market. Inventory is down by about half in many of these cities, including Seattle. Buyers, this spring, have totally abandoned the fence-sitting they've been doing for the past few years. Competitive bidding, multiple offers, and all-cash purchases are now commonplace.
Make no mistake, there will be plenty of open houses for buyers to visit during this year's Nationwide Open House, which is just a week away, April 20-21. The event is becoming more expansive by the year, and the vast majority of Realtors with homes on the market will be holding them open. We had a shrinking inventory situation in 2012, and still had record numbers of open houses.
The difference this year will be the number of buyers who aren't just browsing homes, but are actively pursuing homes. Buyer motivation is sky-high right now, and the combination of more buyers and less homes available will likely generate some large crowds at properties in popular locations.
The event will be a great boon to both buyers and sellers looking to make connections in quick fashion. For those aggressive new home buyers, set up a schedule and fill up your weekend. Home sellers, find a nice weekend getaway, and get away. Realtors, buy some hand sanitizer and some throat lozenges. You're going to be shaking a lot of hands, and doing a lot of talking next weekend.
Search this week's Seattle Open Houses.
Nationwide Open House - April 20-21 - #NOHW13 - National Association of REALTORS info