Homebuying today: Fewer homes, higher prices, and faster deals
A scrum over limited supply in markets around the country leads to higher prices and more frustration Amy Cesario has spent more than 15 years buying and selling real estate in the Denver area, weathering housing crashes and watching neighborhoods bounce back. But the realtor for Slifer Smith & Frampton hasn?t witnessed anything like the buyer behavior she?s seeing this spring.
Tired of looking at homes and losing bidding wars, buyers are increasingly aggressive and impatient as prices continue to rise and inventories shrink. Prospective buyers constantly ring doorbells, regardless of whether someone else is in the middle of a showing.
?It?s the most competitive market I?ve ever seen,? Cesario says. ?We?re all doing what we can for our buyers and our sellers.? Vanessa Bergmark sees the same pressures in California?s East Bay. Longtime owner and president of Red Oak Realty, an independent brokerage that does most of its business in and around Berkeley and Oakland, Bergmark says homes for sale move with lightning speed. And as prices rise inexorably, competition gets that much more frenzied. The market is ?like the tide, since inventory seems to go in and out by the hour.?
?This is not a slow-moving business,? she says. ?It?s not a great market to transact in if you need to sit down and debate a decision.?
Welcome to what a Realtor.com analyst called ?the most competitive housing market we?ve seen in recorded history.? In conversations with more than half a do...
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