Just in the last week I have received several calls from buyers ready to start looking. Every single one of them was putting off looking for property, knowing that prices have been dropping. Nobody wants to miss out on those low interest rates either, which we know will go up eventually, so now seems to be ideal in every way.
I have to admit I was suprised especially after hearing comments from other agents saying that it seemed as if all the buyers just disappeared. I haven't had any brand new leads for about two weeks (that's a long time for the amount of business I usually do). I was starting to worry, myself. I'm usually pretty optimistic about the local market since things are still moving.
So just like that people are deciding that the tables have turned just enough to get serious about buying. I got a mixed group of leads, too. Investors looking for rentals, first-time buyers and seasoned buyers looking for another primary residence.
This is of course good news for sellers because even if they've had to drop their price, many listings have not had any offers in months. Now maybe more of them will at least get something acceptable on the table.
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