CNBC’s Diana Olick is reporting that this Spring’s housing market is the “strongest seller’s market ever.” She says that, nationwide, as more homes come on the market they’re “flying off fast.” As we’ve posted over the past couple weeks, home prices are at new peaks and inventory levels are at record lows.
“In order to compete, buyers are coming in with cash and dropping contingencies. That is because in such a hot market, homes are appraising well below the sale price. That makes it even harder for first-time, mortgage-dependent buyers to succeed.”
