A Tightening Market
Posted by Walter J. Kidd on
HIGH DEMAND AND LOW SUPPLY ARE DRIVING HOUSING PRICES HIGHER. WHAT’S NEXT?
BY ROSS BOISSONEAU on NORTHERNEXPRESS.COM | OCT. 6, 2018
The housing market is always reacting to the law of supply and demand. When there’s a glut of homes on the market, prices drop. When demand outstrips supply, prices escalate.
So welcome to Traverse City, Petoskey, and Charlevoix — if you’ve got the money.
“Home sales are continuing to rise in our area. In certain price ranges, there are shortages of availability. So we are seeing multiple offers and consumers willing to pay more than the asking price and more than [its] true value to secure a home in Traverse City,” said Carolyn Collins. Collins is a Realtor with Century 21 Northland and president-elect of the…
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