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Thursday, February 5, 2015

Spring market “not waiting for tulips” but limited inventory frustrates homebuyers

New figures from NWMLS show year-over-year increases in pending sales, closed sales, and prices, while inventory fell by double digits.  Many brokers are city inventory levels have never been this low, in the last 20+ years.  The number of active listings in the NWMLS dropped 11% in the past year.  We saw sales at a higher pace this superbowl season, as compared to last years.

In today’s market, we often see multiple offer situations.  How can a buyer prepare to enter this market?  They must be “buyer ready” so they can react quickly.  Not only should a buyer have a firm pre-approval before they begin there search, they should have an honest and real conversation with their agent about expectations – not only of the agent, the market, as well as themselves.

Tuesday, February 3, 2015

US Housing Market - Booming with Millennials

In the wake of the Great Recession, lots of those millennials have been stuck either staying at home, or moving back in with their parents. As economic conditions improve, they will become more likely to strike out on their own:

millennials at homeThat process of venturing out and forming new households may have already begun. There has been a spike recently in the rate of household formation.

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