If you’re having difficulties with finding on-market deals at the price points that meet your investment goals, you aren’t alone. In today’s competitive market, relying on available listings as your sole source of new deals is not viable or effective, as an investment strategy.
As of September 2017, the median list price of homes is up 10% year-over-year, while the number of days on market and inventory are down 10% and 9%, respectively, according to research by Realtor.com. In hot markets, these numbers soar far higher. Fewer deals are available, and they are selling faster and at higher prices than just a short year ago. It’s a trend that shows no signs of waning soon. In fact, CNBC recently reported that 2017 will likely turn out to be the fastest housing market on record.
