Local Realtor Says Housing Market Best Since 2005
By Michelle Durham
PHILADELPHIA (CBS) – If you are seeing more “sold” signs in your neighborhood then you have over the past few years it’s not your imagination. Local experts say if you want to take advantage of this market to sell your home, it has to be priced correctly and show well.
Arlene Shaw, a Keller Williams Horsham Realtor, says the tide is turning in the suburbs of Philadelphia.
“It has been progressively getting busier with each week. More people are seriously putting in offers. I’ve had multiple offers on the same property,” she says.
Mike McCann, a Prudential Fox and Roach Realtor, specializes in the Center City market.
“This is the best market since ’05-‘06. Our inventory is the lowest I’ve seen since probably ’04. Right now the problem is not having enough homes to sell for the demand of buyers that we have,” he says.
McCann says he’s even gone so far as to contact folks who tried to sell their homes unsuccessfully in previous years.
He believes pent up demand from those afraid to make a move because of the recession and job insecurity coupled with great rates is the reason for the boom.