For many homebuyers, this spring means war. Bidding wars, that is, as supply in hot markets like Los Angeles and Denver isn’t enough to meet demand, ABC News reports.
In fact, the lack of inventory is a key reason that home sales nationwide are not yet at healthy levels after the Great Recession.
There are six major factors homebuyers need to pay attention to this spring: tight supply, the premium that comes with low-priced homes, low mortgage rates, fewer cash offers, fewer foreclosed homes, and more competition in purchasing vacation homes.
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