Priced out of the market

By
Real Estate Agent with Atlanta Communities 303302

I have, along with many others, been watching the housing market go on a tear for the past 2 years. Low inventory and low mortgage rates have combined to push housing prices up quickly. As a result I have seen potential buyers just give up looking, having been priced out of the market.

I have 2 clients, one young couple had been looking for a home in a rural area with a top price point of $265,000. When we started looking over a year ago there were some homes available and we made good offers on several, only to be way out bid by other desperate buyers.

The second couple is looking for a home in the $400,000 price range. You would think there would be more available in this price point, but no. The few that come up are quickly bid up in price to an unaffordable price point.

Both these buyers have quit looking. They have been priced out of the market. Hopefully some sanity will return when more inventory is available.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

Comments (4)

Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Peter den Boer We've seen buyers priced out here, too. And others wisely waiting. I think things are started to change.... 

Aug 30, 2021 06:35 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Peter - regardless of price point, reality in real estate means understanding the market.  Some "get this" immediately, some over time and then there are those who never understand it.  I believe it is our role to listen, explain and educate.  After that the decision is up to them even when the decision is not to buy.   

Aug 30, 2021 07:17 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

Our friend Michael Jacobs said it perfectly, and things have a way of working out.  A

Aug 30, 2021 07:37 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Peter - just maybe it might be on the way with the slight shifts.

Aug 30, 2021 01:41 PM