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 SaleÂ
The National Association of REALTORSâ€™ (NAR)Â Chief Economist Lawrence Yun recently commented on the inventory:
â€œLast monthâ€™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 itâ€™s stymieing many prospective buyers from finding a home to purchaseâ€?.
The latestÂ Existing Home SalesÂ Report shows that there is currentlyÂ a 4.2-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, andÂ 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 aÂ â€œsellerâ€™s market.â€?
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!
Source: Keeping Current Matters