Friday, May 29, 2015

Buyer Demand Exceeds Housing Supply

Buyer Demand Exceeds Housing Supply

     

Buyer Demand Exceeds Buyer Demand [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • Inventory Levels are still below the 6.0 month level necessary for a normal market
  • Home Prices have experienced year-over-year gains for 38 straight months
  • Home sold faster than any time since June 2013, in just 39 days

Thursday, May 28, 2015

If You Are Thinking of Selling Now's the Time

If You are Thinking of Selling, Now’s the Time


If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.

Jonathan Smoke, the chief economist of realtor.com, in a recent article revealed:
“Our preliminary review of April activity on realtor.com shows that traffic, searches, and listing views are up more than 35% over last year. With 3 million jobs created and close to 1.5 million new households formed in the past 12 months, many more people want a new home of their own, and they want it bad. Their patience will be tested with tight supply—indeed, the No. 1 impediment of active shoppers in April was not being able to find a home that meets their needs.”
In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction including the inspection, appraisal and financing contingencies.

Bottom Line

As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.

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