recently, there has been a subtle shift in the residential real estate market. In some communities, in some price ranges, home buyers are finding there are more homes available for sale, and they are taking longer to sell than they did six months ago.
What's happening? Although interest rates are low, the economy is stalling. Consumers are nervous about job layoffs, and some have put off looking for a home. When demand goes down, the air starts to go out of a seller's market.
While homes are still selling quickly in some neighborhoods, in others, sellers are getting nervous. That represents an opportunity for buyers to cut a better deal. You may not "steal" the property, but you might not face a bidding war either.
Ilyce Glink is the bestselling author of 100 Questions Every First Time Home Buyer Should Ask, and is the Managing Editor of Right at Home Daily.