A Market Ill Fitted for Buyers

The market is difficult for buyers

With quality inventory under $600,000 being very low, and with buyer demand at an all time high since the market crash, you may see and hear that some buyers are struggling to find success in the home buying process.

The ratio of buyers to sellers is lopsided and demand is currently much larger than the supply of desirable homes. Those factors often drive up purchase prices and can create multiple-offer situations. Unfortunately, there are no signs this will get change significantly through July of 2017.

During these challenging times as a home buyer, it is important to have patience and flexibility throughout the home buying process. It is important to keep an open mind about all options including building a new construction home. Other non-traditional listings, such as a pre-listing home for sale (prior to being presented on the MLS) or even a “for sale by owner home,” could also be great opportunities. Being open and flexible is your best bet to possibly avoid a multiple offer situation.

If you are feeling overwhelmed by the home buying process, it is important to find a trusted partner that can think creatively when finding a home that fits your goals and budget. Reach out to any of the Patriot Realty agents as we will ensure that your priorities are understood, and a plan of action is designed to meet your needs.