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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.

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