The Divide

A colleague and I were talking the other day about housing trends, interest rates and the current housing market.  Typical Realtor talk.  As we discussed, we both agreed that spring has arrived early this year.  Of course, not the weather, but the market.

Open house traffic is at a fever pitch, buyers are out.  I've been involved in transactions with multiple offers and I've arranged showings for houses that are not even listed.

My colleague and I were discussing the ramifications of this scenario.  What our focus group of two decided is that buyers are out, but inventory is low.  It's either too early for sellers to be thinking about listing their house (it's not too early this year!), or they are waiting for the market to turn.

Well, here's the thing about waiting.  What you have and what you want are only going to get further apart.  That great divide will continue to grow.  Sure, you may get more for your house if you wait a year or two, but the prices of the house you want will also increase and so will the interest rates.  It's a lose, lose situation.

So, sellers can wait and let the divide grow, or jump in.  As always, it's your decision.