Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Friday, May 28, 2021
Did you hear that...
- they had five offers within 24 hours...
- that house had 35 showings and 10 offers...
- there were 17 showings and eight offers...
It's not happening on every house in every price range in every location -- but it (lots of showings, multiple offers) is happening very frequently these days.
Clearly, there are waaaaaay more buyers in the market than there are sellers.
And, sadly, it doesn't seem that this housing inventory shortage is not likely to work itself out anytime soon.
After all...
- only one of those five buyers bought the house - four buyers remain
- only one of those 10 buyers bought the house - nine remain
- only one of those eight buyers bought the house - seven remain
So, alas, for the foreseeable future...
- buyers are likely to have a LOT of competition from other buyers
- sellers are likely to have a LOT of early interest in their homes
I wish I saw an easy or fast or near-term way out of this situation, but I'm not currently seeing it on the horizon.
In theory, the answer is new construction of "for sale" homes at scale, but we're not there yet...
