Are you house hunting? well, get ready for serious competition with other buyers. Low inventory during the winter is setting an upcoming property bidding war.
On another hand, home prices have escalated or increased in many cities, price pressure is no longer a "normal" thing only in San Francisco or New York.
Inventory is no longer sitting for months, it is sixty days, at the most since buyers are going by them fast. These conditions are benefiting home sellers that want to quickly trade their property and make money out of it.
The inventory shortage is a known issue for buyers and real estate agents, besides frustration, the struggle is real, putting together offers when there is a rapidly rising price is tiring, plus, some sellers start hesitating to move forward.
Experts say that the market will eventually change, although it won't be in the nearest future, they expect current low mortgage rates to go up. Besides, some realtors believe that the seller's market has an estimated deadline, the first semester of 2020.
If you are a home seller or buyer get ready for a bidding war, it is tough, especially when there isn't plenty inventory on the market, set your goals and remember to make smart decisions and move fast! get in touch with a real estate agent to help ease the process that is to come.