When Will The Housing Inventory Come Back

By
Real Estate Agent with RE/MAX Executive

The supply of homes on the market has been steadily decreasing nationally and locally. The National Association of Realtors reports the inventory of homes for sale is the lowest since 1999.

In Massachusetts a combined 15 Towns of Metrowest (see my blog) the active homes on the market is down 21% from the same time last year.

With consumer confidence back and interest rates low this has created a Sellers Market in many parts of the country. Locally homes priced well are selling in a few days and often with multiple offers and over asking price. Prices are rising!

When will the inventory rise? It’s hard to say but I believe many homeowners who wanted to sell over the past several years were unable to due to their homes value having dropped to below what they paid or owed on the home. As inventory has shrunk and demand risen prices are increasing. This will eventually bring these homeowners back in to the market.

When you are buying a home or selling a home start by working with a seasoned real estate professional who will keep your best interests at heart! I have helped home buyers and sellers for over 25 years. I’ll be there for you throughout the entire process! I can also refer you to reputable mortgage lenders, home inspectors and contractors.

Don’t forget, you can stay on top of Metro West real estate with my FREE monthly newsletter and market updates! The Market Insider report is also free and packed with useful information.

When you have questions about real estate, contact me first! I will provide the latest sales data and the market experience you can trust!

John Savignano

Hopkinton, MA Real Estate Expert

RE/MAX Executive Realty

 

Comments (2)

Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

I think there are people who want to sell but paid a high price for their property and think the market is rising faster then it is and they are holding out. There is nothing more frustrating then having a potential buyer say they want this and that and it does not exist in the present market.

Apr 14, 2013 12:37 AM
John Savignano
RE/MAX Executive - Hopkinton, MA
Realtor - Hopkinton and Metrowest MA Real Estate

Hi Noah, I agree, its frustratingnow the market has turned and buyers are confident they want to buy and BOOM- nothing to buy! we are experiencing 5 & 6 offers on a new listing.

 

Apr 14, 2013 01:04 AM

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