Industry News

The end of multiple offers

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: In this four-part series, we observe some of the latest changes taking place in housing markets – some subtle and some rapid. Read Part 1: Perfect home, perfect staging, imperfect market; Part 2: Housing inventory grows in some major markets and Part 4: 10 signs of a changing housing market. The housing market is changing faster than Kate Moss' career after the cocaine photo leak. All the signs are there: no more double parking to get a sneak peek at an open house showing; no more buyers sweating it out to make the best offer among dozens, agreeing to feed the neighborhood squirrels or not to ever under any circumstances remove the old family curtains from the second-floor bedroom – just to get into that house. The frenzy is over. Agents sit alone on Sundays waiting for a buyer to come and try the dip. Listings are piling up in some markets as buyers realize they're gaining back some leverage. This is the end of multiple offers as we know it. Gone are ...