Homes are Appreciating
Buyer Demand Outpaces Inventory of Homes for Sale
Price is determined by the supply of that item and market demand. The National Association of REALTORS (NAR) surveyed 50,000+ real estate professionals to get their opinions about expectations for home sales, purchase prices and real estate market conditions for their monthly REALTORS Confidence Index.
Buyer Demand = Buyer Traffic
This map illustrates illustrates how agents rated traffic in their area. The darker the blue, the stronger the demand for homes.
Seller Traffic = Inventory of Homes for Sale
This map illustrates illustrates how agents rated seller traffic in their area. As you can see, most of the country has weak Seller Traffic. This means there are far fewer homes on the market than what is needed to satisfy buyer demand of those looking to purchase a home.
Real Estate Bottom Line
Looking at the maps above, it’s easy to see why home values are appreciating in many areas of the country. Until the supply of homes for sale begins to meet buyer demand, prices will continue to increase. If you are considering selling your home, let’s meet up to discuss the demand in our area.