Can you feel it? It is a low and underlying buzz. If you work in real estate full-time the buzz is almost deafening. Real estate is making an exciting comeback.
Buyers are getting loan approval and getting into a market that is offering a variety of housing choices. Desirable properties are getting multiple offers and some are selling for higher than the listed price. For more information on those properties see my blog post entitled, “Richmond Market Analysis Report.”
Overall the market has seen an increase in home prices with a month-to-month slight uptick. It has seen the most sales activity in 3 years. According to the National Association of REALTORS, home sales are at the highest they have been in 3 years.
For the consumer this means now is an advantageous time to get into the market. Lower home prices are great for buyers. Home prices are still below what they were at the height of the housing market, but homes that are priced properly are selling relatively quickly and may even have multiple offers.
If you would like more information about the southern Rhode Island real estate market contact me at Rebecca@browngrouprealty.com
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