Shrinking Inventory

Low inventories thwarting buyers

Shrinking Inventory

Bolstering Many Housing Markets

Homebuyers nationwide are discovering their self-appointed task is not for the faint of heart. Nearly every major market has seen double-digit declines in inventories of for-sale listings, making multiple-bid situations common.

According to Realtor.com, which receives listings data from nearly all of the nation's multiple listing services, there were fewer homes for sale in August than at the same time a year ago in all but two of 146 metro areas tracked.

Inman News asked real estate agents and brokers in markets with shrinking inventories how they're coping, and found that many are dealing with at least one consequence of the shortage: thwarted buyers.

Peter and I have been working with a few "First Time Home Buyers" and with the home being on the market for just days, once our clients are ready to submit an offer the home has already 2 offers on it!

So Bottom line if you are on the fence about selling it really is a good time to sell!

"The buyers tend to become a little frustrated as they are seeing homes that they want to 'think about' and before they can even get home to discuss it there are already multiple offers on the property," said Sheri Moritz, a real estate broker with Keller Williams' Wake Home Team in Raleigh, N.C.