If you have been
on the fence with
considering a move,
now may be the time
to get off the fence.
Our inventory for homes is down, and we have
MANY buyers looking to purchase!
(if priced at market value) have been going under contract in about 10 in our area!
If your considering a move, call me we can walk through the steps, see if your able, start the process.
Here’s an article, this is happening everywhere!
Seller Shortage Plagues Many Markets
The low inventory of for-sale homes is creating a seller’s market throughout the country.
“Buyers and agents are literally waiting for the next house,” says Rick Turley, president of Coldwell Banker Residential Brokerage for the San Francisco Bay Area.
The supply of existing homes for sale reached nearly an eight-year low in January, according to the National Association of REALTORS®. Nationwide, there is a 4.2-month supply of existing homes for sale.
A more balanced market with a six-month supply will occur when home prices rise another 20 percent, says John Burns, CEO of John Burns Real Estate Consulting. Such an increase would then lure sellers to match demand coming in from renters and investors, and the rise in prices will also lead to more home building, Burns says.
Still, a return to healthy inventory levels could be years off, some say. “Many home owners can’t afford to sell because they don’t have enough equity to put into buying another house — or would have to write a check to sell,” USA Today reports. “The supply of distressed houses for sale is thinning as the foreclosure crisis recedes, especially in some states. Home building, while improving, is still at low levels. And, after years of holding on, few home owners want to sell when prices are just coming off the bottom, REALTORS® say.”
Source: “Home sellers are scarce as spring buyers stir,” USA Today (Feb. 26, 2013)DAILY REAL ESTATE NEWS | WEDNESDAY, FEBRUARY 27, 2013
- Is There a Window of Opportunity for Sellers Right Now? (szerlip.wordpress.com)
- Housing: It’s Becoming a Seller’s Market (blogs.wsj.com)
- Home prices up 6.8% in ’12, biggest gain in 6 years (usatoday.com)
- Pending home sales up across U.S. and in North Texas (bizbeatblog.dallasnews.com)
- Home sellers are scarce as spring buyers stir (usatoday.com)
- Is Franklin, TN headed for a Seller’s Market? (franklin-tn-real-estate-blog.com)
- Napa home prices, sales rise in 2012 (napavalleyregister.com)