More confidence in the economy means more people looking to purchase homes.
The demand for homes is outpacing supply, which is great news for sellers!
First time home buyers are trying to enter the unusually busy Spring market, but are getting frustrated by losing out. Many have dropped their contingencies in their offers, but there are still frequent bidding wars.
Houses are being sold almost as soon as they come on the market.
So, Media (D) is that news?
And the strong seller’s market seems to be all over America.
Spring homebuyers are pounding the pavement at a furious pace, but the pickings are getting ever slimmer.
Even as more homes come on the market for this traditionally popular sales season, they’re flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver’s seat.
“I’ve been selling real estate for 25 years and this is the strongest seller’s market I have ever seen in my entire real estate career,” said David Fogg, a real estate agent with Keller Williams in Burbank, California. “A lot of our sellers are optimistically pricing their homes in today’s market, and I have to say in most cases we’re getting the home sold anyway.”
Read more: CNBC
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