Why is Buyer Demand so High? It’s an interesting puzzle to piece together. Prices are on the rise. Inventory is lower than usual. Mortgage rates are ticking up. So, why does buyer demand keep getting stronger?  While everyone has their own particular reason for buying property, there are a few identifiable factors contributing to such high demand despite a challenging, seller-advantaged real estate market.

Let’s dive in.

Home is more important than ever.

Home was always a central part of our lives but it was a backdrop, a soundtrack, a cozy refuge between commutes to the office and trips to the mountain or lake retreat. When the country shut down, our home lit up as THE place for everything. We worked and played there, we dined in and dined out under the twinkling lights of our own backyards. We saw way too much of that green accent wall in the living room that was once a fun afterthought and now an obnoxious color detail that simply has to go. Staying home

forced homeowners to reevaluate not only the interiors of their houses (Wayfair’s stock grew 10 times since March 2020) but also the entire structure. Is there really enough room in our kitchen for family dinner nights? Should we have bigger bedrooms or a larger living room? Suddenly, homeowners were keenly aware of every detail and while some things could be fixed cosmetically, others required a whole new house to satisfy their needs.

Geography, for some, is no longer a constraint.

As temporarily remote jobs switched to permanently remote jobs, suddenly geography wasn’t an issue for the newly mobile Employer. They could live wherever they wanted. That dreamy two-bedroom with a view of the mountains and lake could be theirs if they wanted it - all they needed was a savvy REALTOR  who could negotiate and win them the deal. (Hi, friends.)

Low inventory creates a sense of urgency.

There’s a concept in social psychology called the Scarcity  Principle. When something is scarce, demand for that commodity surges, as does its perceived value. Low inventory may be driving up prices but it’s also driving up the appeal of a highly sought-after home. Can you even imagine the elation you’d feel after

getting your offer accepted when the seller had 23 other offers to consider? (If you want to experience that euphoric homebuyer feeling, call me any time.) The equation here is simple: less homes, more demand.

With buyer demand as high as it is, sellers have the opportunity to maximize return on their property.

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