We’re in the heart of the summer, and that means many prospective buyers have vacation—and not house hunting—on their mind. This being San Francisco, we continue to experience limited inventory. So when there are potentially fewer buyers making offers, it can be an excellent time for the serious buyers to wrap up their home search.
Of course, that doesn’t mean you won’t experience multiple-offer situations, especially on homes located in popular neighborhoods. But it can mean that if you’re preapproved for your loan and in a position to quickly write a competitive offer, you stand a better chance of rising to the top.
I continue to hear about way-over-asking sales with multiple offers as of mid July, so it doesn’t appear the market is slowing down. Don’t get too distracted by vacations, though, if you’re a serious buyer. Taking a break often translates into missed opportunity—and competing with the masses in September and October.