Multiple offers are back, but not for every house

Why are we seeing multiple offers in the market?

At the end of last year, there was a lot of uncertainty in the market, so buyers were waiting to see what would happen. After a few months of a steady market, buyers have come to the conclusion that this is the new normal.

What has cause the uncertainty?

News articles said we should expect a 20% decrease in 2023, but we've seen some reports walk back on that. On January 14th, a Goldman Sachs report came out predicting home values were going to depreciate 6%.

Demand has spiked 38% of the past two weeks

Inventory has actually decreased. However, we are still experiencing low inventory, sitting at 2,400 homes on the market in Des Moines.

So which properties are receiving multiple offers?

The properties receiving multiple offers are the homes that look good, are priced right, and are properly marketed.