Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity. This year will be no different!
Buyers have already been out in force looking for their dream homes and more are on their way, but the challenge is that the inventory of homes for sale has not kept up with demand, which has lead to A LOT of competition for the homes thatareavailable.
A recentBloombergarticletouched on the current market conditions:
“It’s the 2017 U.S. spring home-selling season, and listings are scarcer than they’ve ever been. Bidding wars common in perennially hot markets like the San Francisco Bay area, Denver and Boston are now also prevalent in the once slow-and-steady heartland, sending prices higher and sparking desperation among buyers across the country.”
Sam Khater,Deputy Chief EconomistatCoreLogicwent on to explain why buyers are flocking to the market in big numbers:
“In today’s market, many buyers think the trough in [interest] rates is over. If you don’t get in now, it’s just going to be worse later. Rates will be higher, prices will be higher, and maybe inventory selection will be lower.”
In some markets,“thirty-five percent of properties are selling within the first week or two of hitting the market.”Homes are selling at a rapid clip in places like:
Grand Rapids, MI
In today’s competitive atmosphere, you need a professional on your side who knows your exact market conditions and can help you take the steps you need to be able to secure your new home!
Author:Kriste Simmons Phone: 931-561-1103 Dated: April 10th 2017 Views: 64 About Kriste: I am a licensed Real Estate Agent in TN, and KY with Reliant Realty ERA Powered. I have over 18 yea...
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About Kriste Simmons & The Simmons Team of Reliant Realty ERA Powered -931-245-8800
Thank you for choosing The Simmons Team for your real estate needs! We make it our mission to provide you with top of the line services in any type of situation. We specialize in the Clarksville, Montgomery County, Fort Campbell and Hopkinsville areas, but will gladly help you with surrounding areas as well. Our local expertise and wide variety of Real Estate knowledge will benefit you whether you are buying or selling for the first or the tenth time.
"Kristie was truly amazing. It was great working with her with the ease of being able to start my home search before I even got out of the military and in a different state. Before me and my wife were even in the area we knew which area we wanted to be in and had lowered the amount of houses to look at to about 4 or 5. This was all due to Kristie and her hard work of putting the customer first and putting in the time to understand her customers. She is very knowledgeable in the realty business and will drop anything she is doing to lend a hand even after our purchase she is still very helpful. I HIGHLY RECOMMEND Kristie to anyone in need of a realtor that is ready to sell you your forever home. Thank you Kristie!"