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We're Running Out of Houses to Sell--Seller's Market!! Part Two

By
Real Estate Agent with At Home Kansas BR00225772

Pending closings right now is 350 homes.  This is up 64.3% since June 2011's 213 pending closings.  So many houses are going under contract and not enough sellers are putting their house back on the market because they don't have enough equity in them due to so many of them having bought their house so recently in the past few years.

Housing shortages and high demands drives prices higher which the median price increase in my last blog shows so if you are looking to buy a house, now is the time to buy as selections will be fewer and prices higher as time goes by.

 

Comments (16)

Jordon Wheeler
The Jordon Wheeler Group - Fairburn, GA
J W Group Real Estate Sales and Service

Hey Lawrence,

We see this same situation in the metro Atlanta markets.  Lots of buyers and less inventory.  The move up buyers are mostly renting, buying new construction and waiting for the values to go back up.  Best of success to you this year!

Jun 25, 2012 05:10 AM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

There is a huge shortage of homes on the market.  We need more.

Jun 25, 2012 06:28 AM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, Rob...we're seeing the same thing here. I do a lot of BPOs and it use to be that you couldn't find sold comps. Now it's becoming difficult to find the active comps. That was my first clue the market was shifting.

Jun 25, 2012 09:48 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Rob, Your market is taking quite a rebound. Those buyers had better heed your warning or they will miss out.

Jun 25, 2012 12:39 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Lawrence my market is not there yet.  I am happy to hear the good news from different markets though.

Jun 25, 2012 02:00 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Rob, we have the same problems here in Los Angeles, many buyers not enough inventory to sell them....

Jun 26, 2012 02:44 PM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

We've leveled out in our area.  Things are finally back where they should be for a good and reasonable market.

Jun 26, 2012 11:05 PM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, Rob...you must be busy selling the rest of the inventory. We haven't heard from you a while. Hope you have a great weekend.

Jun 29, 2012 03:06 AM
Rob Lang
At Home Kansas - Shawnee, KS
Local Expert in NE Central Kansas Real Estate Home

Yes, definitely staying busy with showings to closings appointments.  I'll be glad when we are "SOLD out" and can take a breather!

Jun 29, 2012 03:21 AM
Bob & Leilani Souza
Souza Realty 916.408.5500 - Roseville, CA
Greater Sacramento Area Homes, Land & Investments

Rob, the fact that the pending properties are up 64.3% from last June says it all...it is definitely a seller's market in Lawrence, Kansas! :)

Leilani

Jun 29, 2012 05:16 PM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Rob: That's awesome that your market is so hot. We are getting better, and the even better news is, we still have excellent deals. Still have REOs coming on the market. And the higher priced equity properties are coming down still. I guess we are still in a buyers market.

Jun 29, 2012 05:35 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Rob -- hopefully Lawrence Kansas buyers sitting on the fence "thinking about it" will call you sooner than later.  You are so right about the level of inventory and its effect on pricing -- so simple.   

Jun 30, 2012 01:09 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Rob how true echoing Michael's comment Supply & Demand is so inter connected. We need more inventory period!

Jun 30, 2012 04:57 AM
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Common problem and some seem to think it's because banks are holding onto REO inventory?  

Jun 30, 2012 08:55 AM
Juli Vosmik
Dominion Fine Properties - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Rob, it's great to read another local real estate market is improving dramatically.  The news people need to hear us - the local agents who are living with a shortage of listings in our markets and the improving values - certainly not wherever they're getting their misguided information.

Lawrence Kansas homeowners should call Rob Lang if they're thinking of selling - you know your Lawrence KS real estate market for sure.

Jul 01, 2012 02:59 PM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Rob--So many areas including Erie, PA are experiencing a lack of inventory.  Hopefully by next year all markets will be closer to normal.

PS  Thanks for stopping at my site recently.

Jul 12, 2012 05:56 AM