Finding the perfect home for your needs, wants and budget can be a challenge even when mortgage rates are low and there are plenty of properties for sale. But when fewer homes are on the market, buyers and their real estate agents must find creative ways to maneuver around the competition.
According to the National Association of Realtors, while inventory levels rose in September for the fifth straight month, the supply of non-distressed homes remains well below normal.
Danny Hertzberg, a Realtor with The Jills Group with Coldwell Banker Residential Brokerage in Miami Beach, says that when inventory is low, buyers need to establish their priorities in terms of price and the type of home and neighborhood they’re searching for. If low inventory makes your search a challenge, you need to be willing to think outside the box.