A review of the sales pace for homes in the Bath School District finds that the pace is the lowest in the past 10 years. Falling from an adjusted yearly average sales pace of 106 units-per-year to a projected 70 units this year, there are simply not enough buyers making decisions in this district. The inventory of homes for sale is holding at 87, which, if there are no turns toward faster purchasing, is enough inventory for 2 years!
It seems as though Bath has finally hit the bump in the road. With a constant inundation of bad news from the rest of the country regarding housing, a rising unemployment rate, and the increasing frustrations of home sellers (an unwillingness to give their homes away), it becomes a quagmire of indecision for those who can buy.
I have many suggestions to those who wish to either buy or sell in this market and would love to share them with you, but I need to know your motivations. No one should be expected to give their home away and no one should be shopping for the deal of a lifetime. If you want a nice home in a great location, they are available and I know how to get them for you; conversely, if you have a home and are thinking of selling it you must be aware of the pitfalls that come in this type of market, and I can help you too.
Everything is cyclical. This market will change, but until it does please seek the help of a professional.
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