By Donna Moyer, Managing Broker
Q: Why am I having such a hard time finding a house? I hear that the Real Estate Market has improved but there doesn’t seem to be a lot of homes for sale.
A: Yes, the Real Estate Market is improving which is good news for our local economy. Homes are selling faster and we are even seeing multiple offers on the same house. This faster market time has been created by a shortage of good homes for sale. There are several factors contributing to this shortage, one of the biggest is that many home owners do not have enough equity to sell (even if they wanted to move up or down). Another is a lack of consumer confidence…many home owners do not believe it is a good time to sell. Prior to 2008 the average home owner moved every 5 years, the current statistic is 9 years. As I think about this, I realize what an impact it is having on our local market. I believe we will start to see this change, especially taking into consideration values have not been inflated over the past few years. Interest rates are extremely low right now and this is also affecting the current frenzy. Be patient, the right home will come your way. You will, however, need to be quick with your decision process and make the best offer you can.
Please feel free to contact me at donnamoyer@lizmoore.com and I'll be happy to connect you with one of my agents! Or, click below to download our free Home Buyer's Handbook.
