Home Sold Signs Popping Up Throughout Lehigh Valley

The Lehigh Valley Housing Market has definitely stepped up pace in the past few weeks.

With interest rates at an all-time low, an $8,000 tax credit, and a glutton of homes for sale, it is true that Lehigh Valley Home Buyer's are looking for a good deal and taking their time but they are buying homes.

Here are some examples:

On Friday, I attempted to schedule 6 houses to show someone on Saturday. 3 of the 6 had just gone under agreement.

On Saturday, I attempted to schedule 7 houses to show somone on Monday. 4 of the 7 had just gone under agreement and one was only on the market 5 days.

In the past two weeks, I have had two Lehigh Valley Home Buyers end up in multiple bid situations.

In both cases, they ended up getting the houses but at a higher price and terms than they originally intended to offer. Both homes were on the market over a month. They might have gotten a better deal a few weeks ago.

What is common in all of the above scenarios is that all of the homes were under $200,000 and all of the buyers are First Time Home Buyers.

Does the increase in activity indicate that many Lehigh Valley home buyers believe we are at the bottom of the Real Estate Market?

There is a pent up demand as home buyers and sellers sit on the fence watching the market. Will the recent increase in market activity cause a larger increase as buyers feel they better act now?

Only Time Will Tell.