One is that there is a large aging population in the Northeast because the homes were good for people to raise families in, and then inexpensive enough for them to stay in after the children were grown.
The second is that there is about 9 months supply on the market instead of the balanced amount of 6 months inventory. That means a good selection for a potential buyer, and with rates as low as they are, now is a great time to buy a home.
Please see the link below to see my blog where i discuss this alittle further. or go to my company website at http://www.c21ag. com . As Philadelphia's largest Century 21 firm, with two offices not 10 minutes from where you're looking we have plenty of agents with good information for you. If there were something unusual in the block causing sellers to want to move, there would e far more then four homes for sale.
Just take your time, choose a good agent who is local to the area, and buy your next home.
As a first time home buyer, the most important thing to do is to relax. Most first time home buyers are very nervous about that first sale. Cautious? Absolutely. Whether you are buying a new home or one that's over a hundred years old, it will never be perfect for you. A little, or at times, a lot of work may have to be done to the property before moving time.
I've been to an open house in a brand spanking new $400K home. It was pouring out and also inside. Water was coming in right around the windows, every one of them. But it was a brand new house. (Side note, best time to see a home is right after a good rain.)
Hope this helps.
Terrence Charest, e-Pro
Century 21 Associates
905 Easton Road
Willow Grove, PA 19090
You could also look up (or have your agent look up) what mortgages those people have/had, ie, maybe they have an adjustable rate mortgage which is due to reset soon and need to sell or some such. Look into tax increases or perhaps some other changes which might effect people's desire to sell.
Keep in mind though, in some markets average time on market for houses sold is 6months+ So it's not that uncommon to see several houses for sale on the same street/block, not because there is somethign wrong with that street, but because it just takes longer to sell so the chances of that happening are much higher now than 2 years ago.
I would look at it as opportunity since as a buyer you have more leverage and the people that are selling are forced to bring down their listing price or accept a lower deal in order to compete with their neighbors per se. Sure, it makes sense to do a little extra due diligence as far as driving by in the evening and on weekends but the answer in my opinion is more due to the simple suppy / demand economics equation.
Also, see my website belowe for other helpful hints. Good luck !