Very low house supply starts off the yearMarket Updates
Very low house supply starts off the year. Historically listings start appearing in mid January after the holidays. This year the start is slower. Its a tough time for many who are stuck at home – the weather is cold, sunshine is rare and you can’t see friends and extended family. Motivation levels for many to do anything are low.
We believe that things will pick up. Vaccine is here, spring is coming. Market will pick up – we think demand will be high and supply will continue to be lower but there will be movement.
This will translate into higher prices. The first deals of the year are indicating that multiple offers on homes are very common. Buyers need to be very well prepared when bidding. Sellers may be pleasantly surprised at what they get for their homes. it will be busy…