What Can We Expect for Fall 2012?
03 Sep 12
In a more balanced market, proper pricing of a home for sale is critical to ensure the maximum number of potential buyers see the property. Multiple offers are becoming less common, this will allow buyers to take more time during the purchase process. Expect homes for sale to remain on the market for more days with fewer agents holding back offer dates in expectation of multiple offers on homes for sale.
Mortgage rates remain at historic lows, this will act to sustain market activity overall.
The investor market however, largely confined to new condo sales, has slowed considerably. We have heard of several large scale developments put on hold by builders due to a lack of response at initial launch. Builder incentives and price reductions are common tactics now being used in the new condo area for those who are proceeding.