There is a major housing shortage of affordable real estate for purchase in many parts of Maryland. The most needed supply of homes, in most markets, are entry level to mid price range housing. Houses in these price points, sell fast, at the highest market price.
Buyers negotiating on high demand houses, can experience excessive stress in multiple offer situations. Sometimes buyers are losing 1-2 homes during negotiations, before finally getting an offer accepted. This is exactly why buyers and sellers need an experienced REALTOR® to help them to successfully navigate their transaction.
Experienced REALTORS® will help to insure their buyers or sellers are properly prepared and informed during all negotiations, inspections, contingencies, and more.
Fortunately interest rates remain competitive. Low interest rates have helped year over year, to boost home sales, as well as home prices. Financial experts are indicating that interest rates will remain at an all-time low as we continue into the new year.
“Real estate fundamentals remain entangled in a lattice of continuing demand, tight supply and disciplined financial underwriting. Accordingly, 2020 will prove to be the most challenging year for buyers, not because of what they can afford, but rather what they can find.” – George Ratiu, Realtor.com’s senior economist
What has been your experience with home inventory? We appreciate your comments, questions and knowledge.