The real estate market has been going gang-busters for the last 2 years. A severe shortage of available homes created long lines to view houses and multiple bids on properties. While it is still a sellers’ market, we are seeing some subtle signs of change this Summer. These signs include fewer attendees at public open houses, fewer showings for new listings, and more days on the market before receiving an offer.
While I don’t see signs of a housing “bubble” about to burst, what I do see are signs that the buyers are now able to shop with more choices available to them and somewhat less competition when it comes to making offers.