Check out these signs that the market is beginning to change from a sizzling hot market to just hot.
- Market inventory has increased in the last few months.
- Some sellers that haven't sold are pulling their homes off the market to rent them.
- We have started seeing selling bonuses added to boost sales.
- Agents are having more broker open houses. These weren't necessary over the last few months.
- Price reductions are being announced and that means sellers need offers.
- REO and Foreclosures were selling in a day or two after hitting the market. Prices climbed and now investors are not as willing to pay those top prices and pay over listing prices. Rehab costs have skyrocketed.
- Days of the market has increased by several weeks to nearly 3 months now.