Prices may have bottomed because most very well priced listings these days are getting multiple offers. This could just be a temporary blip, only time will tell. I spoke to an agent today that wrote offers for 4 separate buyers last week, multiple offers piled up on 3 of the 4 properties.

I also am getting multiple offers on several of my listings at this point, confirming the activity.

In defense of the bears..... These offers have not been full price, so prices aren't on the rise, that is why I titled this blog, "Are prices bottoming?"

Multiple offers are an indication of un met demand. Buyers that get out bid are an indication of future demand which will support prices.

What do you think?

Labels: Real Estate Bottoming?