Home sellers hit roadblocks in buyer’s market

Top 5 reasons buyers won't commit to purchase

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Spring is the traditional peak sales season for houses and condos. Summer is also usually very good until the traditional August slump, especially for families who want to relocate before school starts. More prospective home buyers are in the market at this time of the year than during any other season. But 2006 is proving to be a bit different. Although 2005 was a record home sales volume year, the number of residence sales has slowed this year. There could be several reasons, such as adverse weather in many areas and slowly rising mortgage interest rates. In a few communities home sales prices have taken a slight dip so prospective buyers might be waiting to see if desperate home sellers reduce their asking prices. Another reason for waiting to buy a house or condo is the inventory of available listings is slowly rising, thus offering more homes available for sale. In summary, for most communities it is definitely a "buyer's market." That means there are more homes listed for sale th...