In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise.
The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for a normal market.
Every monthNARreports on the number of buyers out in the market looking for homes, which is also known as buyer traffic. As seen on the map below, buyer demand in March was strong or very strong in 45 out of 50 states nationwide, and Washington, DC.
Many buyers are being confronted with a very competitive market in which they mustcompetewith other buyers for their dream homes (if they are even able to find a home they wish to purchase).
Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.
Many homeowners underestimate the amount of equity they currently have in their homes. According to a recent Fannie Mae study, 37% of homeowners believe that they have more than 20% equity in their homes. In reality, CoreLogic’s latest Equity Report tells us that 78.9% actually do!
Many homeowners who are undervaluing the equity they have in their homes may feel trapped, which may be contributing to the lack of inventory in the market.
If you are debating selling your home this year, let's meet up to evaluate the equity you have in your home, as well as the opportunities available in your market.
AnitraWilliams, Real Estate Professional
JB Real Estate Group (214) 316-1181
Author:John Brooks Phone: 972-863-1034 Dated: April 27th 2017 Views: 139 About John: Hello! My team and I are passionate about helping people build stability and wealth through solid in...
View our latest blog posts in your RSS reader. Click here to access.
Hello! My team and I are passionate about helping people build stability and wealth through solid investments in real estate, either for their personal residence or for investment purposes. We also LOVE to market and SELL your existing property to maximize your return and make the process as smooth as possible for you. Give us a shout today for a relaxed conversation about your real estate goals!
The new UltraFICO credit score will be rolling out in 2019 and is init
"John is genuinely kind individual. He was first a neighbor, a friend, then my Realtor for the selling of our house in Ft Worth Tx. He is extremely knowledgeable and experienced in the realty business. His advices were in the interest of selling my house as quick as possible. He was very attentive to my needs. He even bought front and back door entry mats while we were out of state. Yes, we were trying to sell our house via long distance. John Brooks was very helpful during the whole process. He got the job done quick. You won't be disappointed if you have him on your side. I usually don't write reviews, but JB is very special guy that i would spend a few minutes to drop a few lines well worth for what he has done for us. Thank you John. You are the best!"