Real Estate Q&A: Buying in a Market With Little Inventory

Posted by Bonnie Martin Designated Broker on Wednesday, July 30th, 2014 at 7:45am.

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Q. We are a young couple in Pennsylvania, and we want to buy a house. However, there are no reasonably priced houses in our area due to lack of inventory. When one comes on the market, it’s gone in a few days at a high price. We’re pretty frustrated and probably just going to stop looking for a while. When do you think it will be a better time to buy? Tess L., PA

A. I don’t know any better than anyone else how the market will play out or when it will be a better time for you to buy. Usually when prices rise (as they are today in many areas due to a shortage of homes for sale) many folks jump at the chance to list their homes in an attempt to capture those higher prices. But lately, the higher prices haven’t done much to increase the flow of inventory among homes affordable to first-time buyers.

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