Summer is traditionally a busy season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on those buyers who are looking to purchase before the new school year. This year will be no different!
Buyers have already been out in force looking for their dream homes and more are on their way. The challenge is that the inventory of homes for sale has not kept up with demand, which has led to A LOT of competition for the homes that are available.
A recent article by the National Association of Realtors touched on the current market conditions:
Realtor.com went on to explain why buyers are flocking to the market in such big numbers:
Javier Vivas, Director of Economic Research for Realtor.com had this to say about competition:
Realtor.com looked at the number of homes that were selling above asking price to determine which markets were heating up. Below are the Top 10:
In today’s competitive atmosphere, you need a professional on your side who not only knows the exact conditions in your market but can also help you take the steps you need to in order to secure your new home!
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