At this point, it’s well-known that real estate markets across the nation are experiencing inventory shortages. But what does it look like? This graph has “buyer frustration” written all over it. And while it seems to be getting better, levels have dropped since September and aren’t projected to rise for the foreseeable future.
What does this mean to you? If you’re a seller, this is great news. Fewer homes mean less competition, and more demand from buyers. High demand + low inventory = higher prices. Now is the best time to put your home on the market, especially during the winter, with less competition from other sellers and only the most serious of buyers in the market. If you’re a buyer, there will be continued frustration when house hunting, and it is likely that the most attractive homes will have multiple offers. However, interest rates are still at historic lows, but are project to increase significantly through out 2014. With the help of a hard working real estate agent, you will still be able to find your dream home in this barren housing market.
If you are thinking of selling or buying- I can help you get ready quickly and efficiently – call for details (609) 204-1344.