William's Blog...with a smile!

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Are buyers giving up?

I was asked this by a closing agent last week.

He was telling me that business is down by nearly 50%.

He knows that inventory is down, but thought sales were still going to be high.

 

Speaking only for the area that I work...sales are down, but not because people have quit looking...there are a few of those.

Mostly sales are stifled by the lack of inventory.

When  nice home comes on the market and there are 15-20 showing in the first 24 hours and many offers that tells you how short the inventory is.

 

Yes, some people have quit looking, but only because they want to be moved before school starts.

But the big cause is the lack of people selling.

 

 

Comment balloon 9 commentsWilliam Feela • July 28 2017 05:55PM

Comments

Hello William Feela, supply and demand is driving the price up more and more but buyers still should see the tax benefit in home ownership.

 

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) about 2 months ago

Buyers are not giving up in my area.  They certainly need a ton of patience and very deep pockets to win the challenge of multiple offers.

Posted by Kathleen Daniels, San Jose Homes for Sale - Probate Broker (KD Realty - 408.972.1822) about 2 months ago

Thinventory is everywhere !

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce - Short Sale (Keller Williams 414-525-0563) about 2 months ago

I am sure things will improve once the chaos of summer is over Bill.

 

Posted by Bob Crane, Forestland Experts! 715-204-9671 (Woodland Management Service / Woodland Real Estate, Keller Williams fox cities) about 2 months ago

I had success today with a buyer that has been looking a few weeks. The home went on the market yesterday, we looked last night and made an offer and other offers came in but we prevailed. Buyers do get frustrated.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional) about 2 months ago

Many buyers have to renew their leases so give up looking for homes in this markt

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) about 2 months ago

I find many are discouraged but not really given up...But the big season is almost over,.

Posted by Vern Eaton, Realtor 651-674-7449 about 2 months ago

Good morning again William. Ultimately the reasons don't matter. With a good buyer you always succeed.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) about 2 months ago

I am mainly a Listing Agent (thank goodness !!!), but have battled the Multi- offer syndrome with a couple of buyers this year !

Posted by Michael J. Perry, Lancaster, PA Relo Specialist (KW Elite ) about 2 months ago

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