A once-in-a-lifetime opportunity for sellers? According to our friends at Keeping Current Matters, YES! Here’s why:
Demand is HIGH- there is unprecedented demand right now in our area for homes. Speculation on interest rates rising is prompting many buyers who put their search “on hold” to let the market cool off (which hasn’t happened!), back out again.
Supply is LOW- Millennials are the largest group ready for homeownership. The National Association of Realtors reported months supply is the lowest it has been in a decade.
When you have this perfect storm of high demand and low supply, it creates a once-in-a-lifetime opportunity.
The benefits sellers have right now:
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Competitive offers
- Flexibility on contracts- appraisal gaps, waiving home inspection, flexible closing dates
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Ability to rent back from the buyer to have more time to find their home.
