Well, we knew the Philly housing market was doing pretty well, but not this well. So well, in fact, that local realtors have been putting up classified ads to find prospective sellers. With that, the term “buyer’s market” has been taken to its logical conclusion.
The number of buyers outweighing sellers is a “universal issue in the Delaware Valley,” says CBS, due to the historically low interest rates buyers have been met with. As a result, there has been little to show prospective buyers, leading to the seller search we see now.
So what’s the word for real estate now? Sell, sell, sell—the demand is there. I’m sure we’ve gotten over that subprime lending thing by now, anyways. [CBS]