Are Home Buyers in for Another Tough Spring Market?

​In September last year, the greater Grand Rapids housing inventory started an uptick and continued for four months straight. This is the first time that has happened in the last five years or so. We went from a yearly low of 1.3 months of inventory up to 1.9 months by the end of 2016. Many were predicting the market to finally level out a little. However, from December through the end of January, inventory suddenly fell back down to 1.4 months. Last spring was a crazy market with buyers sometimes competing with 10+ offers. This year we have even less inventory than last as we lead up to the spring market. Buyers will need to be diligent, patient, and put their best foot forward in the home buying competition. Sellers have the convenience of short market times and multiple offers to choose from if the house is priced right.

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​​These older blog posts are still very relevant-
​​http://www.lisavanderloo.com/blog/dissecting-multiple-offers-what-gives-buyers-an-edge-in-competition
http://www.lisavanderloo.com/blog/its-tough-to-be-a-home-buyer-right-now