Forget Lowballing: Bidding Wars Return in Hot Housing Markets

Are buyers being manipulated into overbidding for the relatively few attractive homes on the market?

Earlier this year, the National Association of Realtors (NAR) announced that the number of homes for sale in the U.S. had reached a low not seen since 1999. More homes have hit the market since then, but Lawrence Yun, NAR’s chief economist, said in March that in many areas around the nation, the inventory of homes for sale is unlikely to keep up with the number of interested buyers.

Read more: http://business.time.com/2013/04/30/forget-lowballing-bidding-wars-return-in-hot-housing-markets/#ixzz2S958K36w

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