Buyer Demand Continues to Outpace Supply of Homes Listed

With the latest home sales report being released we have learned that there is currently a 4.6 month supply of homes for sale. This is much lower than the 6 month supply needed in a normal market and even lower than last years summer. Anything less than a 6 month supply is considered a SELLER’S MARKET! Just recent a neighbor of mine listed his home for X amount and the offer price was $15,000 above asking price.

The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on this topic,

“With demand holding firm and homes selling even faster than a year ago, the notable increase in closings in recent months took a dent out of what was available for sale. Realtors are acknowledging, with increasing frequency lately, that buyers continue to be frustrated by the tense competition and lack of affordable homes for sale in their market.”

Meet with one of our recommended real estate agents who can help you see what demands are in your area. Please contact us with any financing questions we would love to help get you into your dream home!

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