We might see a much earlier spring selling/buying season this year because of the upcoming deadline for the home buyer tax credit. The "hot" season typically takes off in March and runs through May. But buyers who want to claim this year's tax credit, which ranges from $6,500 to $8,000, must purchase their homes by April 30 and close by June 30. So look for more activity than normal in February and March as we head toward the finish line. Some better economic news has also prompted more people out along with the continued low interest rates.
Inventory is still an issue in most markets, leading to busy open houses, and many homes are being sold with multiple offers...helping to firm up sales prices.
Buyers are circling attractive listings and many are willing to make all-cash offers to win out. Cash is still king, because appraisals continue to be an issue, and because lending is taking longer.
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