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Homebuyers Eagerly Enter Housing Market Leading to Bidding Wars & Multi-Offer Scenarios

August 7, 2020

 

When home inventory is low this can lead to bidding wars and multiple-offer scenarios. Here’s what you need to know as a Delaware homebuyer. 

With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the housing market this summer. Today, housing is truly driving the U.S. economy forward. With so many buyers looking for homes to purchase and so few houses for sale right now, there’s a disconnect between supply and demand. This imbalance is pushing home prices upward while driving more bidding wars and multiple-offer scenarios. Danielle Hale, Chief Economist at realtor.com explains:

People are surprised that prices are rising, not falling, because in the last recession home prices fell, the difference this time is the severe shortage of homes for sale…We are seeing bigger price increases with [a limited] number of homes…That is likely to lead to more competition and potentially multiple offers and bidding wars.

 

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You can check us out. We’re on FacebookGoogle+ and Linked-in. Watch us on YouTube, too. Our real estate Agents, most of us are Baby Boomers who relocated to Delaware from elsewhere in the states, are armed with the most current information on Delaware’s Neighborhoods and New Home Communities.

We focus on our clients - the 65,000 Baby Boomers, or at least the ones that would like to live in Delaware or already do. We Specialize In Buyer Representation of New Homes and Resale Homes in Delaware.

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For more information regarding this property or any other properties in Delaware, visit www.ActiveAdultsDelaware.com or contact Active Adults Realty at 302-424-1890, or via email to
Broker@ActiveAdultsRealty.com

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