It’s Time For The Annual Nationwide Open House!

Agents will be available at open houses to answer questions about the home buying process and local market conditions. 

According to data from the National Association of Realtors, the typical recently purchased home was 1,860 square feet and was built in 1996. The typical buyer purchased a home with three bedrooms and two full bathrooms, with about half of the homes purchased on a single level. When it comes to home features, buyers prefer central air conditioning the most, while walk-in closets were second. The two most common rooms buyers were willing to spend more for were a laundry room and a den/home office.

Realtor.com data indicates that this spring will likely be a particularly busy home-shopping season. Homes are on the market approximately 98 days nationwide – a decrease of nearly 12 percent year-over-year. In addition, the number of homes on the market has also decreased since this time last year – nearly 16 percent. All that means t oday’s buyers are competing for fewer homes and must act more quickly, because homes are selling at a faster rate.

“Buyers need to have a clear idea of what features are important to them and know where they are willing to compromise,”a real estate agent suggests. “That is where visiting open houses can be helpful. Also, working with a Realtor can be a real asset. Realtors visit hundreds of homes with buyers each year, and have a unique understanding of what buyers value in their local markets. Their expertise and knowledge can help you achieve the dream of homeownership.”

Go to www.raci.org to view area open houses.