Buyers are facing the dilemma of missing out on houses. The Realtor® sends them a prospective listing, they look it over and call back in the morning only to find out it already went pending! When they finally get inside a home and make an offer they often get outbid. It can be frustrating. This market is so hot right now our local MLS now offers hourly email updates for us Realtors® to send out automatically informing our clients the moment a new listing meeting their criteria hits the system!
Buyers have to suck it up if they want a shot at their dream house because this market is most unforgiving to the lackadaisical buyer. According to the local MLS roughly 650 residential properties closed in May (some may not have been updated yet) and of those 314 were on the market less than 10 days.
Waiting for the weekend, may not always be the best option. Buyers should also be ready for sellers that are not very responsive. I have wrote about this foolish phenomenon but it is happening. Some sellers have gotten cocky. They only hurt themselves, but none the less buyers need to persevere to get the home they want. Heck, perseverance is needed to get any home right now.
Worry not buyers, inventory will start to come back and things will settle down, buy in the mean time be ready to pounce and ask your Realtor® about hourly updates :)