To say it's an unusual time in the real estate market is like saying the Beatles were just a band! Inventory is at historic lows- in most parts of Sacramento County, inventory is a month or less, and inventory priced under $400,000 , is almost non existent: they go pending as soon as they hit the market! One of the biggest factors, is sellers aren't selling because they can't find their replacement home, whether it's moving up or down sizing, Nobody wants to sell their home and have to rent for awhile, and so the market goes. Now, we have interest rates even LOWER than before, in direct opposition of what usually occurs when the Feds raise their rates. So now, buyers have more buying power than ever before and are writing multiple offers, to the point they give up.
I always council my buyers up front- it's a process, and you may not get your first second or even third choice, but I promise you, we will get you a house. It takes tenacity, creativity, experience and hard work as an agent , to get buyers the right home at the right price.
Unusual times call for thinking outside the box, and rest assured, we WILL get back to a more normal market, the Feds will nudge interest rates up and that may just be the thing needed to get sellers'motivated!
Just make sure your agent is up to the task. This market is not for the faint of heart.