Markets & EconomyMLS & Associations

Echoes of the bubble in agents’ descriptions of markets

Buyers don't seem fazed by imbalance between supply and demand

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

By ANDREA BRAMBILA, PAUL HAGEY and TEKE WIGGIN It's the kind of language not heard since the height of the boom. In Westminster, Colo., broker Chris George reports listing prices that seem "almost egotistical." In Denver, Andrea Lard says homes are selling within a few days, and "I have heard of two listings selling within hours." In Grand Haven, Mich., "We list them and they're gone," says Realtor Lisa Franklin. "The longest market time on any home placed on the market this year for me has been four weeks. We need more inventory for sure." Having heard anecdotal reports that buyers in some overheated markets are pulling back because they are nervous about the potential for another bubble, Inman News asked agents and brokers what they're seeing in their markets. Although most real estate pros said they haven't seen buyers getting cold feet yet, the language they use to describe their markets sounds eerily like a description of the conditions in many markets around th...