That just about sums up the state of our market right now. Houses come on the MLS and agents are just waiting for them. Like sharks to the chum, they attack! Such is the state of housing in Clark County, Washington and in many other markets as well.
Many home owners seem to be guarded about selling right now. If the seller has equity and can sell, this could be the ideal time to list. There are not an overwhelming number of buyers but they do outnumber sellers significantly. This market locally is all about a lack of inventory not so much an abundance of buyers.
Sellers can capitalize on the lack of inventory and get a little more for their home. As more inventory hits the market prices will stabilize a little. There is always that sweet spot in market transitions. This is one of those sweet spots. Tight inventory makes it easy to sell but difficult to buy.
The real heat in the marketplace is generally in the bottom half of pricing. Those sellers looking to move up from the bottom half into the upper half can take advantage of that sweet spot I mentioned. Rapid price increases at the bottom and much more modest increases at the top make for a tidy advantage for a seller to sell now. Also, interest rates remain low and although I have been barking that they could go up significantly for several years, they will go up. When they do, all bets are off for many buyers and sellers.
For a seller that has been waiting to get out from under and upside-down house, now could be the time to grab one of the desperate and frustrated buyers to give them that little bit extra they need to clear the bank and move on to the next house.
It looks like this summer is going to be very interesting indeed.