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Lack of Inventory Causing a Buying Frenzy?

by Michael Levy on July 6, 2012

in National, NEWS

For Sale PhotoA big drop in inventories of for-sale homes across the nation has led to a buying frenzy in some sought-after neighborhoods, real estate professionals report. A gradual gain in home prices is also following suit, they say.

NAR projects a 3 percent nationwide rise in existing-home prices this year and a 5.7 percent rise next year.

Several housing markets are now reporting multiple offers and bidding wars surfacing, due to the lack of inventory in some markets.

To read the full article, click here: Realtor Mag

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