Yes, many places are seeing seller's markets now. Buyers have got to be pre-approved and ready to go, and sellers have to be ready for the offers to come in!

Good morning Peter. The suburbs of Chicago are suffering from thinventory while the downtown condo market is getting softer. Enjoy your day!

Supply has been low since the 2007 Crash, builders stopped building and many re-sales were converted to rentals, so we are 10 years in arrears for new housing to catch up to demand. Inflation will switch the market from sellers to buyers, but that is about 1-2 years away according to chief economists in our industry.

Hello Peter - even in times of plentiful inventory, a well-prepared buyer understands the importance of sense of urgency and the power of decisiveness.  

Hello Peter,  Low inventory is one of our biggest problem in the Denver, Colorado area.

Good morning Peter den Boer - great explanation about supply and demand.  It is a double edged sword for people looking to sell and buy something else.

Peter,

This is a wonderful post on what a seller/buyer should expect in these times.  Wishing you a great weekend. A

Glad your market is doing well. Buyers can't wait or the home will not be there.

Great post Peter!  I'm going to have to use this quote below.

If you have to sleep on it, you will never sleep in it"

I kind of enjoy a market where buyers are fighting over homes, competition certainly motivates people to act rather than sit on the fence, haha.

we actually have buyers putting in offers before they get an appointment right now.  It's the only way to get a house.

Low inventory has been an issue for quite some time in the Greater Sacramento region, Peter!