Are People Buying Right Now?
A question all too familiar, that I get asked on the regular. It’s actually hard to reply to, as my answer tends to consistently baffle the questioner. My answer; “Yes people are buying, there’s a ton of buyers out there. Interest rates remain at an all time low, and there’s actually a shortage of houses on the market… every house that goes on the market(priced right) receives multiple offers. I have buyers right now, but no houses for them. It’s a great time to sell actually, a seller’s market. It’s all supply and demand. And right now it’s low supply and high demand.”
We’ve watched and witnessed all year having to submit multiple offers for our buyers, hoping one will “stick” and get an acceptance by the seller. Maybe this info isn’t so mainstream well known yet as it’s not the “Gloom & Doom” info the media usually thrives on. However, the Union Tribune recently posted several good articles summarizing San Diego’s housing market inventory:
“You’ll often hear this from real estate agents and researchers: The housing supply in San Diego County has fallen drastically during the past two years.
The main reasons for the significant drop in local listings include a decrease in foreclosure stock and negative equity among folks who’d typically put their homes on the market.” Click Here to read the whole article.