3 Expert Insights On Inventory In The Current Market
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The
current housing landscape presents greater home values, low interest
rates, and high buyer demand. All of these factors point to the strong market forecasted to continue throughout the rest of the year.
There is, however, one thing that may cause the industry to tap the brakes: an overall lack of housing inventory. Buyer demand naturally increases during the summer months, but the current supply is not keeping up.
Here is a look at what a few industry experts have to say:
“Market conditions are ripe for increasing home sales
with one glaring exception. The supply of homes for sale remains tight,
keeping existing home sales below potential.”
“We’re not seeing as many new listings come up on the
market…It was only 18 months ago that the number of homes for sale hit
its lowest level in recorded history and sparked the fiercest
competition among buyers we’ve ever seen.”
Bottom Line
If you’re thinking of selling, now may be the time. Demand for your
house will be strong during a period when there is very little
competition, ideally leading to a quick sale and a great return on your
investment.
In real estate, the spring is often seen as the ideal time to buy or sell a house. The term “Spring Buyer’s Season” exists for a reason, as renters and those looking to move on from their current home thaw out from the winter and hit the market ready to buy. According to Bank of America’s annual Home Buyer Insights Report , 41% of renters surveyed agree that spring is the best time to buy a home. The surprising result, however, is that when ranking the seasons, winter comes in second at 24%. In many areas of the country, the spring and summer are the most competitive seasons for buyers. Families with children often want to move over the summer to make sure that their kids are ready for school in the fall. This often leads those families who haven’t found homes to buy to push pause on their search in the fall and winter months. This creates a great environment for buyers to find a home with less competition. According to moving.com , schedu...
The
current housing landscape presents greater home values, low interest
rates, and high buyer demand. All of these factors point to the strong market forecasted to continue throughout the rest of the year.
There is, however, one thing that may cause the industry to tap the brakes: an overall lack of housing inventory. Buyer demand naturally increases during the summer months, but the current supply is not keeping up.
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