There Seems To Be A Backlog of Home Buyers

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There Seems To Be A Backlog of Home Buyers
By Scott Rogers • February 10, 2021 Filed In: buying, market
If you're a buyer, it's hard to secure a contract on a house these days -- especially under $250K, even under $300K, especially in the City of Harrisonburg. It almost seems like there is a backlog of home buyers all frustrated from not having found something this past fall, or past summer, or past spring -- because homes under $250K or $300K are often seeing 10+ showings and multiple offers in the first two or three days on the market. What is this backlog of buyers causing? steep competition for new listings amongst many buyers contract prices that often go above the asking price offers that often have escalation clauses some buyers waiving home inspections some buyers waiving appraisals It's a wild and crazy time right now to try to buy a home, at least partly because there is a larger than normal number of buyers frustrated that they haven't been able to buy in the past 6 to 12 months. Perhaps when spring arrives we'll see a rush of newly listed homes which will start to cut into this excess buyer demand? Or perhaps not. Stay tuned! Receive updates from HarrisonburgHousingToday.com via e-mail: Enter your e-mail address: Recent Articles: Mixed Use Developments in Rockingham County, Looking Around and Looking Forward Getting Ready To Sell? Focus On Neighborhood Sales Prices First! Who Is Winning In The Local Real Estate Market? Why Did So Many Homes Sell In Our Area In 2020? As A Home Buyer, You Have Never Had Fewer Options How Quickly Are Homes Going Under Contract? Home Sales Up, Prices Up, Inventory Down in January 2021 What Could Cause Our Imbalanced Housing Market To Balance Out? If You Might Sell Your Home and Buy A New One In 2021 You Probably Have These Three Questions 72 Apartments In Six Buildings Proposed in the City of Harrisonburg Adjacent To Planned Mixed Use Development In Rockingham County
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Feb 25, 2021 (unless otherwise noted).
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