Multiple Offers Are Back
An MSN real estate article stated that with investors and buyers vying for bargains, housing markets showed strong demand. Some homes are being bought as soon as they hit the market such areas as Portland, Memphis, Seattle and Salt Lake City. Brokers are saying "Multiple offers are back." From an activity report from Northwest Multiple Listing Service in March, pending sales number has increased nearly 21 percent, and the market is becoming more balanced as well. MLS director George Moorhead, branch manager at Bentley Properties in Bothell commented that, "Buyers are screaming for more inventory and they're being more aggressive with presenting offers on homes, and both buyers and sellers want to catch the historically low interest rates." For Seattle, 36% of the inventory has melted off the market, according to the data from Realtor.com. NWMLS article: HERE.