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Not only are they back, they are dominating the biggest real estate markets!
We have talked a lot about how the key to the market right now is the home inventory. Everything we are seeing relating to time on market and sales price are hinging on it. Well, some recent numbers were released that show just how true that is.
Today we will discuss some amazing stats about how many transactions – as recently as May 10 – have involved multiple offers on real estate for sale all across the country! In some of our metro areas, the majority of homes for sale ended up getting multiple offers! That means that buyers in those markets and even those outside the metro area real estate markets, are likely feeling the pinch of tough competition when it comes to finding a piece of real estate.
Of course, I will also suggest some strategies to try and find the best way for buyers to navigate this real estate market where there are just too few homes available to meet demand. No matter what the real estate market conditions, you always have options. It is just a question of thinking a little bit outside the box. When you find yourself following the same path as every other buyer out there, see if you can’t discover a less traveled path to not only save you money now, but make you money when you sell your property down the road!
There are some things to keep an eye on that might just rear their head later this year. So join me as we take a look at the most recent real estate market stats that will blow your mind!
Feel free to get in touch if you want to talk more about what is going on and see how it might impact your real estate decisions!
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