If you are debating listing your house for sale this year, here is the #1 reason not to wait!
Buyer Demand Continues to Outpace the Supply of Homes for Sale
The National Association of REALTORS’ (NAR) Chief Economist Lawrence Yun recently commented on the inventory:
“Last month’s dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the market.
Demand is easily outstripping supply in most of the country and it’s stymieing many prospective buyers from finding a home to purchase”.
The latest Existing Home Sales Report shows that there is currently a 4.2-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 4.6% lower than a year ago.
The chart below details the year-over-year inventory shortages experienced over the last 12 months:
Anything less than a six-month supply is considered a “seller’s market.”
Bottom Line
Let’s get together and discuss the supply conditions in your neighborhood to be able to assist you in gaining access to the buyers who are ready, willing and able to buy now!
About Seth Muenzer’s Real Estate Blog: The above article “#1 Reason to List Your House for Sale, NOW!” is hosted by the Seth Muenzer, the owner of www.sethmuenzer.com. a leader in the field of Real Estate sales, marketing, and social media marketing. If you’re thinking of selling or buying, I would love to share my knowledge and expertise. For tips, tricks and how to save money when buying real estate please visit my other blog articles. If you have real estate question feel free to ask anytime and thank you for visiting my blog.
Servicing the following San Benito County areas: Hollister, Ridgemark, Tres Pinos, San Juan Bautista, Aromas and Prunedale as well as Santa Clara County, Gilroy, San Martin and Morgan Hill.
