It seems like just a little while ago, well maybe it was 2, 3, or 4 years that we were reading articles from our national press stating that places like Naples Florida had enough inventory to last for the next 10-15 years.
Cape Coral had enough inventory for the next 7-8 years.
Here's a headline from DSNEWS.com from just a few days ago
"Report finds 67% of buyers believe market has shifted toward sellers."
well, could someone please tell me exactly
How'd that happen?
Actually I don't intend to attempt to answer that question, but rather to take a look at
is it true?
what does it mean?
First, I need to mention that I was struck by how many articles these days come from SomethingNews.com. Maybe it's just me, or maybe not, but most and I mean most of my news comes from internet sources.
The source of this report was
Redfin's second quarter Real-Time Home-Buyer report
and I'll leave it up to you to decide if that's a good source or not.
here's a quote which addresses the is it true question
"after speaking at length with buyers, it was determined that although their understandable frustration concerning the low inventory continues to rise, there is an equal elevation in their individual awareness and recognition of the seller's market, as well as an overall willingness to actually pay more out of pocket to purchase real estate."
does that sound like a seller's market?
and what does it mean?
that at least for the near future that home prices will continue to rise and that inventory will continue to be low, thus leaving the "sellers" in the drivers seat.
Back to the quality of the survey
the data was acquired from interviews conducted with (over) 1350 actual homebuyers from 22 metropolitan markets in the US having recently toured Redfin homes for sale.
good enough for me.
so back to the original question
how'd that happen?