Home Buyers Continue To Compete For Good Homes

When you see a home for sale that looks great, has all the right updates, and is in an desirable neighborhood, chances are you aren’t the only one excited about the prospect of living in it. Especially in a market short of available homes, good ones are going to attract buyers, and that means competition, bidding wars, and quick sales. It can also mean heartbreak, if you’ve grown attached to a home that eventually sells to another buyer. Fortunately for today’s home buyer, competition has eased a bit from its height. But while there’s evidence that higher rates have slowed buyers, homes for sale are still going quickly. How quickly? Well, according to one new analysis of market conditions, homes sold in October typically accepted an offer within 16 days. That’s a day longer than they lasted in September but is a whole two weeks faster than they did in 2019. That means buyers still need to be ready to move fast, especially if the home you’re looking at seems move-in ready. (source)

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