How Vacationing in Europe Could Affect the U S Housing Market realtor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from realtor.com Daily Mail and Mail on Sunday newspapers.
Bill Wilmering’s buyer has disappeared.
An agent with Wood Brothers Realty in the St. Louis area, Wilmering recently told Inman that he had been working with a man who found the perfect home. Together, they put together an offer that they thought could work. And then as has happened to so many agents this spring, they lost a bidding war.
Bill Wilmering
“I haven’t heard from him in days, which is very unusual for him,” Wilmering said. “The last comments I had from him were that he was very discouraged.”
The anecdote is just one of many that highlights the brutal market buyers face in much of the U.S. right now. It’s a market that has been shaped by supply shortages, rising material costs and the coronavirus pandemic all of which have sent prices soaring.
Calculated Risk calculatedriskblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from calculatedriskblog.com Daily Mail and Mail on Sunday newspapers.
Calculated Risk calculatedriskblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from calculatedriskblog.com Daily Mail and Mail on Sunday newspapers.
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The four-bedroom house in North Tustin went on the market on a Thursday. On Saturday, Vik and Sarah Szemerei were inside, checking out the midcentury living room and debating how they could remodel the kitchen at the $1.1-million listing.
If they wanted to act, they didn’t have much time; offers were due Tuesday.
California’s housing market has been tight for years. But these are no regular times. Instead of the traditional open house where dozens of people flow in at their leisure and can stay for hours, pandemic rules limit showings to one group at a time.