The most recent home sales figures for June were just released by The Kansas City Regional Association of Realtors and there were some very interesting trends. Sales were higher (up 17%), sales prices were higher (up 4%) and average days to sell were lower. The most disturbing trend however was the supply of homes on the market.
Supply of available homes is down to 13,500 including both New homes and resale homes, that is a 6.8 months supply. 6 months supply equals an even market with anything above signaling a buyers market and anything below 6 months signaling a sellers market. While it might not sound like an undersupply of homes, an extemely large percentage of those properties are undesirable to say the least.
Would be home buyers are clamoring for new and better properties to come to market, the problem is that many sellers have decided that now is not the best time to place their home for sale. These decisions are delaying the recovery as many buyers keep waiting for better properties to come to market.
Are you a seller holding back from listing your home? Let us show you why now is the best time to sell your home and how our Sell For Less commission plan will save you thousands on the sale of your home.