What properties are selling fast in the current market?

Home buyers need to act fast if they want to purchase any of these hot ticket homes.

All across the country, homebuyers are facing one of the most competitive real estate markets in years. With the influx of people looking to buy homes, the inventory is constantly shrinking. Homebuyers are having a hard time finding good starter homes, affordable homes and even new construction homes are starting to disappear from the market.

Due to the constantly shrinking inventory, here is a list of homes that are selling the fastest.

Starter Homes

As a large number of young Americans are starting to buy their first home the inventory for those homes is rapidly shrinking. “Starter Homes” are typically a perfect fit for young first-time buyers. But with today’s influx of people looking to buy their first home the market is seeing a shortage of inventory and they’re selling fast.

New Construction Homes

Because the housing market is short in supply, new construction homes are now gaining the attention of buyers who live in a competitive market with high demand. Even though these homes may cost more, they offer a new alternative to buyers who don’t want to compete in bidding wars over existing properties which may need additional construction.

Downsizing Homes

Many homeowners across America are recently looking to downsize. The minimalist lifestyle is becoming more popular as people start to shed more of their belongings and material items. This has caused homebuyers to look for homes that are smaller and more practical. Buyers no longer see the need for oversized homes and are also looking to save money.

Open Concept Homes with Multi-functional Spaces

How many times have you watched a home buying show and the first thing they ask for is an “open concept home?” The majority of homebuyers put “open concept” at the top of their list because they want a home that is versatile and multi-functional. With an opened floor plan, homebuyers have more freedom in how their house functions compared to homes that have more walls and designated rooms.