In the current real estate market, there is no shortage of prospective buyers who want to purchase a home, and real estate agents who want to help them accomplish this goal. What there is a shortage of, however, is homes for sale.
Home prices have been increasing steadily for years, but those increases have been balanced by record-low interest rates. As rates have recently begun to increase alongside prices, this rise has created affordability issues for potential homebuyers.
Today’s homebuyers are more technologically literate than ever, and their desire for digital resources often extends beyond property browsing.
Since the housing crisis began, distressed properties — foreclosures, short sales and bank-owned real estate — have dominated much of the conversation around real estate and real estate finance. The latest data, however, seems to indicate those days might be over.