Navigating A Low-Inventory Market
Over the past year, multiple factors have led to low inventory in the housing market and high demand among buyers. These factors can create a frustrating situation for buyers where it feels like you will never be able to buy a house. While a low inventory market comes with a host of additional challenges, it doesn’t make it impossible to find your dream home - especially with the right help.
Tips For Navigating A Low-Inventory Market
No one wants to compromise on their dream home, but in a competitive market you’ll want to know which features or neighborhoods matter the most to you and what things you may be willing to sacrifice if necessary.
Patience is also key. Know that the search for your dream home may be a marathon. Try not to get attached to a home too quickly, be prepared to lose out on some homes, and find the right professional help to guide you.
Having a good real estate agent is important in any market, but it’s crucial in a competitive one. Find a local agent who understands the market you want to buy in and who can alert you to new listings as they hit the market. A good agent can also help you craft an offer that stands out from the crowd.
Have your finances lined up with mortgage pre-approval and talk with your agent about ways to make your offer more appealing to sellers.