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My crystal ball says the 3rd Tuesday in June at 4:00 PM.
Seriously though, any answers you get will just be a guess. No one can know the answer. Beyond that, real estate is too local to answer in this sort of broad fashion.
When the prices reach the point that people can afford to sell, and they want to sell, they will sell. That point differs for everyone. So my personal best guess is that the inventory will gradually increase, not all of a sudden.
There should be a few more houses coming on the market as buyers who have not been able to sell for the past couple of years, realize that real estate is selling again.
I don't know if that will help you because the buyers have suddenly realized that prices are still low and interest rates are in the basement. It's a good time to buy and lock in those bargain interest rates.
Where I live, it's a strong sellers market. We just put a house on market ( affordable starter in a nice area). It sold in 1 day, for asking and a conventional loan. We had 6 showings set for the first 2 days. So yeah, it can be tough for a buyer in some markets, much much different than 2 years ago. We tried to sell 2 years ago and would have gotten about 20% less.
What's going to put a lid on this is appraisals. The deal won't go through if the buyer offers much more than what it will appraise for.
Depends on the price range. Even with decrease inventory. I live in the central Florida/orlando area.
If one is looking at the lower end 150-200k range. Yes inventory is tight. Homes move quickly.
But if u are looking at range above the FHA limits for your area (in Orlando the FHA limit is $358k give or take). So homes above $450k is readily available and unless its price right will sit on market for a while. Some people are trying to price those homes 12-15% more than last year price when those homes really are 5% more than last years prices.
I'm in Brevard County Florida. We had a hell of a time getting a house. All houses priced right were getting snatched up by cash offers or conventional with a large down payment. We went conventional with 10% down and were looking at houses as soon as they were listed and making offers . It seemed other agents had pocket buyers lined up. A lot of other houses were very over priced and would not appraise at asking price, and sellers were not willing or able to come down. It has taken us 6 months to get a house.
I'm in Brevard County Florida. We had a hell of a time getting a house. All houses priced right were getting snatched up by cash offers or conventional with a large down payment. We went conventional with 10% down and were looking at houses as soon as they were listed and making offers . It seemed other agents had pocket buyers lined up. A lot of other houses were very over priced and would not appraise at asking price, and sellers were not willing or able to come down. It has taken us 6 months to get a house.
Exactly correct for the Florida market in metro areas.
Not neccessarily "pocket" buyers, but many Real Estate agencies will delay listing the property for the 2-3 days BEFORE they are legally obligated to post them available to the public.
That way the agency can get the sales commission on selling and buying side of the transaction.
I'm in Brevard County Florida. We had a hell of a time getting a house. All houses priced right were getting snatched up by cash offers or conventional with a large down payment. We went conventional with 10% down and were looking at houses as soon as they were listed and making offers . It seemed other agents had pocket buyers lined up. A lot of other houses were very over priced and would not appraise at asking price, and sellers were not willing or able to come down. It has taken us 6 months to get a house.
Again. What price range are u looking at?
It makes all the difference. I see homes in my area sitting 45-60 days and counting in the 500k and up in central Florida.
But at the adjacent community. Homes in the 200k range even 300k range are being snatched up quickly.
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