Perfect Storm for Condo Buyers

Consider these facts drawn from the statistics of the Northwest Multiple Listing Service.

• A plentiful inventory (459% increase in months supply of inventory from this time last year).
• Total listings up 138%; market time increase, making sellers more willing to offer concessions.
• But on the other hand prices (value) of condos holds well.
• And interest rates, lending policies and mortgage products all very attractive and favorable for buyers.
• Many times in the real estate cycle there have been buyers' markets where there was a large inventory of homes to choose from .. but never has large inventory combined so well with low interest rates.

The combination is right for buyers. The perfect storm to buy.