Well, one could make the arguement that this Summer has just simply been hot so far. Temperatures hovering close to 100 and the sun has been brutal. I would know because I have had the privilege to be in it quite a bit while working on our own personal house we have been building. Thankfully, that is completed and we are enjoying the new place.
As Summer has been hot, so has the market in Sumner County been blazing. With temperatures soaring, house sales have been as well. In the month of June alone, 252 houses have closed out in Sumner County in the $150,000 to $350,000 price range. Another 119 homes in that same price range are currently under contract and prepping to close soon. Each month is seeing steady incline in house sales and prices are therefore rising. In contrast to the houses that have sold, or are under contract, there are only 273 homes avaialble in this price range in the whole of Sumner County. What that last number means is there are not enough homes on the market to meet the current demand.
That is a big reason why there is a spike in new construction and houses being built by the dozens. Crews are facing the heat of the year in order to supply the necessary homes to meet the heat of this market. As the consumer, although finding the house you like and being able to buy it has maybe been frustrating with the multiple offer situations we are facing, it is still important to remain patient and confident that the right house will come up for you. The absolute worst mistake you could ever make in the house hunting process is to settle on a home just because you are afraid someone eles will get in front of you.
So, just like a worker who is out facing the heat of the Summer takes a break to cool off in the shade, it is a good idea to find a "shady spot" as a home buyer. Don't let the heat of the marekt exhaust you into making a delusional decision like a person can make unrational decisions if they stay out in the heat too long. Simply cooking in the sun can bring on heat stroke, and simply allowing the market to drive you can cause you to suffer the effects of remorse if you simply buy an available home instead of buying the right. home.
In order to avoid the disasterous results of "Sellers Market Stroke" be sure to find an agent you will calmly asssit you through the heat of this time. If you are a buyer, be sure your agent has your dreams in mind and not just making another commission. Having this can literally be the difference between "life and death" in this crazy HOT Real Estate Market.