The situation is forcing some discipline on buyers, because so many are competing for available houses, local brokers say. In Northern Kentucky, sales bounced back in February from a slow January. Figures for Indiana were unavailable. The usual post-Christmas winter slowdown never happened, he said. And houses go quickly, he said.
Brokers say buyers are under pressure.
Sellers are agreeing to them, but retaining the right to continue to market their houses. There's some hope that inventory may improve. Mr. Cagney said sellers who are building new homes are advised to wait until the foundation is done before putting their old home on the market. Though the weather has been good this year, it has rained enough to slow home construction. As building picks up, more homes might come on the market, he said.