Home Buyers Need Cool Heads In Hot Housing Markets
Buying a house in a hot market requires a cool head. Consequently, would-be buyers must be prepared to act fast and pursue effective strategies to win their desired dwelling.
Buying a house can get downright competitive these days.
Nationally, the demand for homes has outstripped supply. Mortgage interest rates remain very low.
Household incomes are on the rise. And prospective purchasers are getting off the fence and increasingly committing to a property of their own.
Consequently, would-be buyers must prepare to act fast and pursue effective strategies to win their desired dwelling.
Click to see today’s rates (Jan 9th, 2017)
What’s Driving The Demand?
Bill Golden, Realtor with RE/MAX Metro Atlanta City side, says rivalry for residences today is significant due to several factors.
“We’ve had record low inventory for a couple of years now, which creates fierce competition for buyers,” says Golden. “This is mostly due to the recovery from the recent recession.
“Sellers on the top end are reluctant to sell, as they are still trying to recoup the perceived value they lost during that time. This, in turn, stalls the move-up market, which creates a tight market for first-time home buyers.”
As a result, home seekers need to be ready to clear hurdles along their path to home ownership.
1 hour #MNM
— Robert Lesnicki (@robertlesnicki) Jan. 9 at 07:00 PM