Real estate agents' confidence slips, but now is still good time to buy
Posted on Tuesday, January 7, 2014 at 10:01:00 AM
For those interested in residential financing, the idea that fewer real estate agents think now is a good time to buy may be worrying. However, many markets across the U.S. still present great, affordable opportunities.
According to Redfin, only 65 percent of the firm's agents felt that the fourth quarter of 2013 was a good time to buy, compared to 72 percent in the third quarter and 86 percent in the second quarter.
What exactly is the biggest impediment? For many, a lack of inventory has tempers boiling, Redfin reported. In fact, 87 percent of respondents stated that this was the biggest problem for buyers.
"These days, finding the right home is more difficult than ever," said Marcus Fleming, a Phoenix-based real estate agent with Redfin. "With such limited home inventory available, buyers who need to move now often have to compromise on upgrades or location to find a home that meets their budget and basic needs."
However, those interested in residential financing can still find deals. According to Forbes, job growth and housing demand has boosted some markets. For instance, Fort Worth, Texas has plenty of great buys, as do markets in Florida, Georgia, North Carolina and many other places.
These locations could be ideal places to invest, or for first-time homebuyers who may sell again in the near future.