It’s a sellers market right now as sale prices continue to rise. The demand for homes is larger than the availability of what’s on the market. This provides opportunity for increased sale prices in a typical supply and demand fashion.  This isn’t meant to put a damper on all the buyers out there but, they do need to be aware. Sellers are still ready to sell and they still have to compete with one another.  Currently buyers just have to be more focused on knowing what they want and what their limits are to getting it. “Nationally, the median existing-home price for single-family abodes zoomed up to $255,600 in the second quarter of the year, according to the new quarterly report from the National Association of Realtors®. (Existing homes are previously lived-in residences as opposed to newly built abodes.) That was up 10.1% from the first quarter of the year and represented a 6.2% rise from the second quarter of last year.”

Sellers – This doesn’t mean we can get too confident with the asking price of our homes. We still need to keep within the reasonable limits, still considering market value and property estimates.

Buyers – Be more efficient with your searching time. Make a hard list of must haves, definite “no’s”, and financial limitations. Share these with your realtor and set forth on a clear path to finding the home you want with a lesser chance of losing it to the next buyer.

Continue reading Realtor.com’s article here