Toledo area foreclosures are down almost 10 percent from March of last year according to new data from RealtyTrac Inc.
Local realtor said fewer foreclosures means less supply during a time of high demand.
â??Weâ??re happy for our sellers because the prices are starting to go up,â?? Danberry Realtor Julia Tricky said. â??And thatâ??s what happens when the supply is low and the demand is high.â??
Glennis Pryzmierski, another realtor for Danberry, isnâ??t surprised to hear the local foreclosure rate is dropping. She said she's not expecting another drop for next year.
â??People are getting jobs again. Theyâ??re starting to pay mortgages when they couldnâ??t before,â?? Pryzmierski said. â??And I think weâ??re going to see maybe a level out of what the high was.â??
Many of the realtors at Danberry have been working seven days a week. Tricky said itâ??s not uncommon for her to receive multiple offers on a house now.
â??Usually spring is always busy, but now itâ??s really fun,â?? Tricky said. â??Itâ??s the way it used to be.â??
Tricky and Pryzmierski arenâ??t expecting the market to die out any time soon.
Realtors said this spring should be successful for the market because of pent up demand after the long winter.