What If I Wait Until Next Year to Buy a Home?We recently shared that national home prices have increased by 6.7% year-over-year. Over that same time period, interest rates have remained
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Buyer Demand Continues to Outpace the Supply of Homes For Sale
The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage:
“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.”
The latest Existing Home Sales Report shows that there is currently a 4.6-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market and 5.8% lower than June 2015.
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 a “Seller’s Market.”
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!
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Texas REALTOR® Hite Properties Best Priced Properties Team in The Woodlands, TX Cell: 936-445-0216 Office: 936-270-8090 ext 101 E-fax: 936-270-8774 Client First! We believe our clients should....
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