Ready, Set – Buyers Take Action
Dust off your athletic shoes if you’re a potential home buyer – you’re going to need to act fast!
According to the National Association of REALTORS®’ 2021 Profile of Home Buyers and Sellers, home sales between July 2020 and June 2021 were only on the market for a median of one week before going under contract.
One of the many reasons why things have been at full speed in the housing market are the new tools that have been put in place since the pandemic started. Virtual-showing tools are helping buyers visit houses quicker – 43% agreed that virtual tour options were useful over the past year.
Competition remains tough as well. Buyers are needing to pay full price – or more – to be sure to stand out. Most buyers are also waiving appraisals and home inspections.
As we enter into the winter seasons, experts will keep an eye on the real estate market and if buyers can slow their pace.
For more real estate news, stop by Pacific Alliance Title’s Blog.