State Of The Housing Market

Are there still multiple offers on every property?

Not every property, but, yes, on most residential properties that come on the market.
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This phenomenon has consequently continued to raise the prices, as eager buyers are willing to offer above the asking price to have a chance to be the next owner.
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Will this stop or at least slow down? Yes, but not until we have more homes built, since the shortage of inventory is driving the market with the quite simple old economic theory of "supply and demand".
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We are encouraged that builders are starting to purchase lots and hopefully this spring, along with all the flowers, we will be seeing lots of the house foundations popping up as well. Building costs are now starting to make sense again.