If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.
Jonathan Smoke,Chief Economist atrealtor.com, revealed in a recent articlethat:
“The biggest challenge to buyers this spring will be simply finding a home to buy and getting it successfully under contract. That’s because the supply of homes for sale is at an all-time low, and yet demand is strong and getting stronger.”
Smoke goes on to say:
“We started the year with the lowest inventory of homes available for sale that we’ve ever seen on realtor.com. While we did see inventory grow 2% in February, total inventory was down 11% over last year.”
In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction including the inspection, appraisal and financing contingencies.
As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.
Author:Ken Wood Phone: 951-323-7630 Dated: April 17th 2017 Views: 19 About Ken: ...
View our latest blog posts in your RSS reader. Click here to access.
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
Here are four great reasons to consider buying a home today instead of
"Lynne was a God-sent!
Found her via a blog discussing best schools in LA. Was in LA in March 2016 for a week, exploring lodging possibilities for my family's July 2016 move to the city. Within a week she helped me fine-tune my search criteria, identify and see dozens of properties that matched these criteria, and finally find our dream property on the south bay, at the right price! Her extensive network of highly competent other agents, escrow companies, and lenders, made this out-of-state purchase as smooth as it could be, all with a smile and an infectiously positive attitude. She really felt like family and did her best for ours! If you need to buy or sell your home, just contact Lynne! I'll be entering the same review in all relevant forums. This lady needs to be recognized!!"