November 14, 2014 6:23 am
WASHINGTON – Prospective buyers are now starting to house hunt and the influx is creating a busy spring in the real estate market.
More buyers means more competition — and that changes the game.
Ron Sitrin, a realtor with Long and Foster, says buyers can no longer drag their feet.
“Buyers are making their decisions substantially faster than they used to,” says Sitrin.
Sitrin says that after months of stagnation, it has taken his clients time to get used to the market’s new tempo.
“So what’s happening is we see a house come on the MLS system,” Sitrin says. “And two or three days later you’d see that — with a high degree of irregularity — these homes are selling very quickly.”
Sometimes they sell in just a few days. It’s the effect of months of stable prices, low interest rates and a generally positive economic outlook.
WTOP’s John Aaron contributed to this report. Follow John and WTOP on Twitter.
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