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). Buyer 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 … (2 comments)
Sometimes the explanation isn't as complicated as we may think.
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh The Real Reason Home Prices are Increasing There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of … (1 comments)
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh Lancaster,PA Home Sales Slowed by a Lack of Listings ! Some Highlights: The inventory of existing homes for sale has dropped year-over-year for the last 29 consecutive months and is now at a 3.9-month supply. Existing home sales are currently at an annual pace of 5.48 million, the highest pace since June of this year, but down 0.9% from October 2016. NAR’s Chief Economist, Lawrence Yun, had this to say: “While the housing market gained a little more momentum last month, sales are still below year ago levels … (1 comments)
Lancaster General Health will host a blood drive on Tuesday July 11th, from 2 to 7 PM at Faith Reformed Presbyterian Church. The church is located at 611 Robert Fulton Highway Quarryville, PA. Blood collected in the drive will remain in Lancaster County for the benefit of the community.
Donors need to be 16 years of age or older and weigh at least 110 lbs. No appointments are necessary, but donors will be required to present picture identification. Community members may also schedule appointments at Lancaster General Health Blood Donor Center at the Suburban Pavilion, 2104 Harrisburg Pike Lancaster, PA. Appointments can … (2 comments)
Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com
Is the Current Pace of Home Sales Maintainable? There are some experts questioning whether the current pace of residential home sales is maintainable. Are too many people buying homes like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy real estate market. Why the concern? Some are looking at the last four years of home sales and comparing them to the three years … (3 comments)
We need more homes on the market in Lancaster and Lebanon Pennsylvania!
Year to date 2016 vs 2015 Sold Units down 7.3% Active Listings down 5.6% New Listings down 2.4% * Source Keystone MLS Two Reasons: The average tenure in a home has risen to 10 years. Historical average is 6 to 8 years. For Sale by Owner (FSBO) activity is at historic lows.*Source NAR (National Association of Realtors.
Because interest rates remain low there are plenty of buyers in the market. If you're thinking of selling now is the time.
Call me!
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717 553-2500 office 717 715-6288 mobile 717 786-7967 direct donhess39@gmail.com
Statistics from the Keystone MLS and National Association … (2 comments)
Don Hess Keller Williams Realty of Central PA East 930 Red Rose Court Lancaster, PA 17601 717 553-2500 office 717 715-6288 mobile 717 786-7967 direct donhess39@gmail.com The Top Reason to List Your House For Sale Now! If you are debating listing your house for sale this year, here is the #1 reason not to wait! Buyer Demand Continues to Outpace the Supply of Homes For Sale The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage: “With demand holding firm and homes selling even faster than a year ago, the notable increase in … (1 comments)
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