With Homebuyers flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon since experts forecast a steady rise in both rates and home prices this year and next. As a result, Buyer demand greatly outweighs the current housing supply.
Due to these conditions, today’s Buyers frequently enter bidding wars while trying to purchase a home. This in turn drives up home prices and gives sellers all the leverage in the negotiation process.
In such a hot market, to a Buyer it can feel as though the supply of homes has virtually dried up, that is why there’s never been a better time to sell.
The graphs below document the housing prices from this year to last year and the average listing price for homes in the Camden County area (information from GAMLS statics, deemed reliable not guaranteed).
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