Lack of inventory, buyer demand up and more competition.....

[Kenny Simpson]

We are well on our way for 2023 real estate market, buyer demand is up, sellers are pricing properties more accurate, 30 year fixed rates are down from the 7.375% PEAK and inventory just dropped below 1MM nationally.  On TOP of that, inflation, consumer wage are coming down and JOBS market still seems to be hanging on.  10 MM job offerings out there.

In the last week I am seeing 5,10 + offers on houses and buyers that waited for 2023 are excited to get out there and purchase a home.  Buyers are smarter with ALL the media, podcast, YouTube, data and overall access to information to see what is really going on in the market for their own knowledge.  They are expecting a good deal, seller credits towards closing cost and items to be fixed or a credit toward repairs when purchasing a home.  For some buyers this reality is changing because there is more competition with buyers and some buyers will close without credits and repairs done.  

What are you seeing out there?