Being in Real Estate, Realtors including myself often get questioned -is it a Buyer's market or Seller's market? Definitely a Seller's market in Central Ct! Inventory is low and lots of Buyers, is basically how this analogy is arrived at.
From what I see in stats it seems to be this way Nationally, as well. Kind of strange actually, as this is my 17th yr of my Career and I can't recall the inventory being low Nationally. It's great to be in such an active market! Multiple offers, homes listed at the right price literally flying off the shelf, and homes sometimes over appraising! The downfall of it is the poor buyers that either hesitate to put an offer in on a home or put an offer in on a multiple offer situation and lose their bid to someone else.
In my area specifically, I see values creeping up which obviously is a good thing. Interest rates seem to be holding, despite of the threat of them supposedly rising according to the media. Being in July at present, I suspect that the Seller's market condition will probably play out for the rest of the calendar year.
From a Realtor's point of view- Listings are the name of the game- always have been, but with current mkt conditions, even more so....
Happy Summer!
www.kevinwgreen.com
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