The real estate markets in Delaware and Pennsylvania are showing signs of pent-up demand as both states get back to business.

Home buyers in particular are raring to go! 2020 online home viewing activity has been "hot" in Northeast Delaware and Southeast Pennsylvania, according to national data aggregators.

This is great news for home sellers, but it signals a highly-competitive market for home buyers! During the past few years, the supply of homes for sale in DE and PA has been well behind the level of demand. Last year, the Philadelphia-Camden-Wilmington metro saw listings decline 26.3% from the prior year. Home prices in the Philadelphia metro surged as a result. 

Today, home buyers are eager to take advantage of historically-low mortgage interest rates, just as homeowners are still feeling out the market. To be successful, DE and PA home buyers need to do five things:

1. Have their home financing in order, with a pre-approval letter in hand. We can refer you to excellent mortgage lenders in the area!

2. Work with a real estate professional who can supply new listings promptly.

3. Know their priorities in a home and stay focused during the search. 

4. Be willing to cast their net a little wider, and consider different neighborhoods.

5. Be patient, and stay in the market!

As your Delaware and Pennsylvania real estate experts, the Kat Geralis Home Team is happy to help you with your home buying journey! Contact us today!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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