My New Blog

June 26th, 2012 8:18 AM
As we start the summer, home sales are continuing to increase. However, new listing activity is beginning to slow and level off. If pending sales keep increasing we will see an increase in home values. With dwindling inventory and more buyers than sellers, values will increase. But, I think we will see values flounder for a while. That’s not bad, it is actually good. Contracts, as usual, are tough to support. As in the past, most buyers see something they fall in love with that home and are willing to pay more than the other 10-20 other potential buyers didn’t see. With underwrites remaining tough, appraisers are fighting to use that one or two sales that support the offer. I have always said 95% of offers are at the top 5% of values. Buyers must try to take emotional influence out of the buying process, but very difficult.
In the next week I will run some Tampa Bay housing numbers.
Posted by Paul Amirto, RAA on June 26th, 2012 8:18 AMPost a Comment (0)

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