Why Wouldn't You Buy Now?

By Brian French
Posted Tuesday, Mar 18, 2008

I went to a seminar last week and received some interesting information about people's buying habits that seem to be right on targetat the moment.Just a few years ago we had a lack of inventory, housing prices were at an all time high, and it was a seller's market. With that said, people were looking at very few homes and deciding to make offers on these homes in a matter of minutes and quite often for more than the asking price. Interest rates were about the same back then as they are now. In today's market, we have a surplus of homes, interest rates are still around the 6% mark and it is abuyer's market. But, people are sitting on the sidelines to wait and see what happens. So some of the questions I have is, are there too many choices for buyers? Are the buyers waiting for interest rates to go up? Are the buyers waiting for their choices to disappear? Are the buyers waiting to pay more than the listed property's price again? Is it just too much of a good thing and that is why buyers are missing a great opportunity? These are all questions that eventually will be answered, but for now if I were a buyer Iwould stillask myself, why wouldn't I buy now, when everything is in my favor?