Back in the day, a real estate agent would see maybe two or three offers on a home. Now realtors may see an average of ten offers on many homes, sending the asking price skyrocketing. Some people are even coming in with all-cash offers to edge out the competition. 

According to REMAX, the number of homes for sale in June 2021 was down 37.5% from June 2020.

For example, homes in Columbus, Ohio were selling within 8 days of hitting the market on average (Zillow.com). The competitive housing market trends are inspiring homeowners to leave the coastal markets for the Midwest and the South.  Between millennials looking to buy homes, the pandemic displacing people and the wealthy moving out of big cities, markets are changing quickly.

Homebuyers are still able to take advantage of low mortgage rates, but the rates are ever-changing. 

With rates still at low levels, now is still a great time to purchase or refinance even though inventory is light. It’s still possible to find the home of your dreams, it just may take a little longer.

Arc Home is here to help you see what your options are. Be sure to give us a call today!