YOU MAY FACE LESS COMPETITION!
The intensity and regularity of bidding battles was one of the top stories in recent real estate headlines. During the pandemic, extremely competitive bidding wars were the norm because there were so many buyers trying to buy a property and so few of them available for sale. This caused home prices to rise. You probably seen this directly if you attempted to purchase a property over the past two years, and you might have encountered multiple residences where your offer was outbid.
You can exhale a pleasant sigh of relief if you put off your house search because you were outbid last year or because you didn't want to deal with the peak intensity of bidding wars. Even though it's still a sellers' market, an increase in inventory gives you a chance to get back in. It's possible that some purchasers may still be in competition with you, but it won't be anything like it was a few short months ago.
It could be time to start your home hunt if you put your plans on hold in recent years due to heated bidding battles. These days, bidding wars are less common, which can mean less competition for buyers like you. If you're determined to buy a house or move, work with a reputable real estate agent to start the process right away.
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