It’s Still a Seller’s Market
Buyer Demand Continues to Outpace the Supply of Homes For Sale
The National Association of REALTORS® (NAR) Chief Economist, Lawrence Yun commented on the housing inventory shortage:
“While feedback from REALTORS® continues to suggest healthy levels of buyer interest, available listings that are move-in ready and in affordable price ranges remain hard to come by for many would-be buyers.”
The most recent Existing Home Sales Report shows there is currently a 5.1-month supply of homes for sale. This is lower than the 6 month supply necessary for a normal market.
The chart below details the year-over-year inventory shortages experienced in 2015:
Anything less than a six-month supply is considered a “Seller’s Market”.
Real Estate Bottom Line
I am happy to meet with you to discuss the supply conditions in your neighborhood and assist you in gaining access to qualified buyers who are ready, willing and able to buy now!