In school we all learned theTheory of Supply and Demand. When the demand for an item is greater than the supply of that item, the price will surely rise.
The National Association of Realtors (NAR)recentlyreportedthat the inventory of homes for sale stands at a 4.4-month supply. This is considerably lower than the 6-month inventory necessary for a normal market.
Every monthNARreports on the amount of buyers that are actually out in the market looking for homes, or foot traffic. As seen in the graph below, buyer demand in February significantly outpaced the last six months.
Many buyers are being confronted with a very competitive market in which they must compete with other buyers for their dream home (if they even are able to find a home they wish to purchase).
Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.
Many homeowners underestimate the amount of equity they currently have in their home. According to a recentFannie Maestudy, 37% of homeowners believe that they have more than 20% equity in their home. In reality,CoreLogic’slatestEquity Reporttells us that72.6% actually do!
Author:Victor DeFrisco Phone: 561-951-3759 Dated: March 22nd 2016 Views: 223 About Victor: ...
View our latest blog posts in your RSS reader. Click here to access.
We are a full service real estate brokerage with over 100 agents to serve you. Let us be your real estate resource. Regardless whether you need to buy or sell now, or sometime in the future, let us help you. We are no pressure and will always try and help. Contact us at 561-792-3948 now.
Home Flips Plunge as Distressed Inventory Dries Up Share Sep
"Thu, May 19, 2016
Joseph Schneider went above and beyond the capacity of a realtor. He facilitated in making the process of us purchasing our first home less stressful because of his knowledge and experience. Joseph made sure that every aspect of our transaction was handled in a professional and timely manner. Whatever we asked for in our search for the perfect home, he made sure that he did his due diligence. Joseph was referred to us and we would most definitely refer him to anyone who is looking to purchase or sell a home."