The Ayes Eyes Have It, or
“Holdover” Buyers & Sellers
Anecdotally, Twin Cities agents (myself included) are reporting an uptick in the number of prospective Buyers saving or watching listings on MLS this Summer.
A couple months ago, it was typical to have 2-3 Buyers save a listing; now, those numbers can be double or triple.
Waiting for . . . What Exactly?
What gives?
Here are a couple theories:
–More new Buyers are entering the housing market and “getting their feet wet.”*
–There’s more for sale lately (MLS inventory is up), and saving listings lets Buyers keep track.
–Motivated Buyers already bought earlier this year; the Buyers who are left (“Holdover Buyers??”) feel less urgency, are (mostly) content on the sidelines.
–Buyers are watching homes that originally listed this Spring, haven’t sold, and are (over)due for a price reduction (I suppose those owners would be “Holdover Sellers”).
Most plausible scenario: all of the above.
*That would correlate with increased (Sunday) open house traffic, which also seems to be occurring.
See also, “The Significance of ‘Saved’ Searches on MLS“; and “Who’s Watching the Listing?”
