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This year's housing market is expected to favor sellers-and for buyers, those circumstances will likely result in multiple-bid situations. Whichever camp you fall into, it's important to understand how to navigate this type of market in order to achieve the best possible outcome in the transaction.
"The 2016 housing market is forecasted to be mainly a seller's market, filled with increasing home prices, relatively low inventory and fierce competition between buyers," says realtor.com® Chief Economist Jonathan Smoke. "Buyers looking to close this year need to keep an open mind and be prepared to move quickly when they find a home that meets their needs. For sellers, it's about understanding the ins and outs of their local market so they can optimize the price of their home and close quickly."
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