How a Lack of Listings (Homes For Sale) Impacts The Market
Home values are up, home sales have slowed, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years.
However, there is one thing that is causing the industry to tap the brakes: a lack of housing inventory. Buyer demand has remained strong throughout the year, but supply has not kept up despite more listings coming to market.
Here are the thoughts of a few industry experts on the subject:
World Property Journal
“The slow pace of growth has thus far done little to reverse the long contraction in inventory that took place from January 2015 to August 2018. In July 2017, inventory was falling at its fastest pace since 2014 of 12.8 percent year-over-year.”
Robert Dietz, Chief Economist for the National Association of Home Builders
“A shortage of housing inventory, a deepening construction labor shortage and high land costs are fueling the crisis”.
Aaron Terrazas, Senior Economist at Zillow
“For four years it felt like homebuyers couldn’t catch a break as for-sale inventory became tighter with each passing month…Homebuyers are not out of the woods yet, but there is a glimmer of light on the horizon.”
Danielle Hale, Chief Economist at Realtor.com
“For buyers, there is going to be more inventory. So that’s a bright spot… The downside of that bright spot is it might not be in their price range.”
If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is less competition. That could lead to a quick sale for a great price.
Help-U-Sell Southland Realty can create a Comparative Market Analysis (CMA) for you and determine the value of your home. Please fill out the information in the form below and Help-U-Sell Real Estate agent will contact you shortly.
One of the many benefits of owning your own home is the freedom to find your ‘furever’ friend. By pointing out the aspects of your home that make it ‘pet-friendly’ in your listing, you’ll attract these buyers, rather than alienating the 68% of American households that have a pet!
Demand is Strong
There is Less Competition Now
The Process Will Be Quicker
There Will Never Be a Better Time to Move Up
It’s Time to Move On With Your Life
The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index, in which they compare home prices regionally and by state.
So you’ve decided to sell your house. You’ve hired a real estate agent to help you with the entire process and they have asked you what level of access you want to provide to potential buyers.
In a competitive marketplace, access can make or break your ability to get the price you are looking for, or even sell your house at all.
Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting that home sales will increase nicely in 2019.
When it comes to buying or selling a home there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors.
When it comes to today’s real estate market, though, the top two factors to consider are what’s happening with interest rates & inventory.
3 Reasons Renters Want to Buy a Home
Millennial Mythbuster – Homeownership Is Not Out of the Question
The Cost of Buying a Home. A 50-year Flashback
The First Step in Buying a Home
Selling a Home: How Much Has Your Home Increased in Value?
Buying a Home: Where Are Home Prices Headed in 2019?
If you plan on buying a home, it doesn’t make sense to wait!