Home Value Appreciation Stops Falling, Begins to StabilizeThe percentage of home price appreciation on a year-over-year basis has decreased each month for over a year. The question was how far
Buyer Demand Still Outpacing The Supply Of Homes For Sale
The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).
The map below was created after asking the question: “How would you rate buyer traffic in your area?”
The darker the blue, the stronger the demand for homes in that area. Only four states had a ‘stable’ demand level.
The index also asked: “How would you rate seller traffic in your area?”
As you can see from the map below, 25 states reported ‘weak’ seller traffic, 21 states reported ‘stable’ seller traffic, 3 states and Washington D.C. reported ‘strong’ seller traffic, and only 1 state reported ‘very strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.
Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in the market now!
Latest Blog Posts
Thinking of Selling Your House? This is a Perfect Time!It is common knowledge that a great number of homes sell during the spring buying season. For that reason, many homeowners hold off
Do You Know How Much Your Home Has Increased in Value?Last year we saw headlines about a possible housing market bubble, and many wondered if Americans still felt confident about the value of their
3 Things You Need in a Shifting Real Estate MarketWhether you are thinking of selling your house or buying a home, today’s real estate headlines can be confusing – perhaps even concerning. What