According to a fairly recent Redfin survey, buyers’ main concern is lack of inventory. However, a majority of sellers still think it is a buyer’s market. So something doesn’t quite tie up here. Inventory may be low but some of the reports like this make is seem like bidding wars are going on everywhere and forcing prices up. As much as some corners would like us to believe this is true, the reality is more likely that many buyers hold off, just give up, or don’t bother at all when faced with over-competition. If you’ve made 80-100 offers (an offer every four days) it may be your strategy needs reviewing. There is only one strategy when faced with a scenario like this, and that is “don’t buy!”
