The Blog ofThe Yungmann Group

Continued Supply Challenges

Supply of home for sale has improved a bit in the past 4-6 weeks, but the buyer backlog continues to absorb the better correctly priced homes quickly. This is creating particular challenges for buyers without liquidity. for the first time in 10 years, it’s very hard to get seller closing cost assistance and homes are not appraising for the contract prices. Both create a situation where a buyer needs more cash to close – either for closing costs, to offset a lower loan proceeds or both. This article further explains the dynamics of the current market. http://rismedia.com/2017/05/31/pending-home-sales-…