The number of listings are increasing, but apparently, not enough. And those that come up are sold right away with multiple offers. But they're coming.....just hope the buyers are bracing themselves for the competition.
There are several property owners who may be contemplating selling, but are hesitating because their properties are still not back at the price they paid for them, and if so, the sellers will find themselves in a hole. However, since the market is improving, they may be more inclined to sell. I have three such sellers who are waiting...waiting...waiting....
Many buyers are incredulous at the rapid turn of events -- or at least, for them, it happened too quickly. It seemed that the buyers' market they hoped for didn't last long enough. Many of them kept hoping the prices will still go down.....and refused to act. Such buyers may be regretting their decision to wait. And now, it's another mad dash to buy.
I just hope we won't have the crazy and creative financing such as NINJA loans-- no income, no job, no assets --- that enabled people to buy even when they really couldn't afford it.