We are currently experiencing the hottest seller’s market in the last ten years. Even when inventory increases in the spring, it looks as if the multitude of buyers will continue to outnumber the availability of homes in the area. Competition among buyers has resulted in multiple offers and rapidly rising prices.
Although most experts forecast a continuation of the real estate bull run for all of 1999, no one knows how long this seller’s market will continue. Past patterns, nevertheless, demonstrate that real estate goes through predictable cycles.
History often repeats itself, but we do not always pay attention. Many people treat “today” as though it will never change. Both buyers and sellers need to factor this reality into decisions they make in this supercharged environment.Read More