By Chris B Johnson Realtor, Thousand Oaks Short Sale Map, Simi Valley Short Sale Map,
Moorpark Short Sale Map- Ventura County Short Sale,
Though the housing market is recovering nicely, it is not doing quite as well as some analysts had predicted. There has been no shortage of excuses offered as to why this is: the rise in interest rates, more stringent lending standards, the weather.
However, we feel that there is one factor that is most responsible for curtailing the number of houses sold – the number of houses available for sale!
Inventory Levels are BELOW Historic Norms
In a recent economic forecast, Freddie Mac addressed this exact issue:
“Including newly built homes in the inventory count, the total number of homes offered for sale relative to the number of households in the U.S. has been running at the lowest level in more than 30 years, as shown in the second exhibit. The relatively low for-sale inventory reflects several features of today’s market.”
“A supply-constrained market (holding other factors constant) will result in a decline in the volume of sales and an increase in real transaction prices.”
NAR Report Confirms Inventory Constriction
History shows us that a balanced real estate market requires a six month supply of available housing inventory. The National Association of Realtors released theirExisting Homes Sales Report earlier this week. The report revealed that we are still only at a 5.5 month supply of homes for sale. We have not reached the 6 month mark in over two years. The recent increase in buyers now looking will again put a strain on this number.
While inventory levels remain below historic norms, it will remain a seller’s market. This being the case, if you are considering selling your home, now may be the time to list it for sale.
Many Ventura County Homes Appreciated by over 16% Last Year. If you’re thinking of selling, yours may have now have enough equity to sell without being “Short”.
Pricing your home correctly the FIRST TIME is more important than ever!
If you want an accurate idea of what your home is worth Click Here:
You may now have enough EQUITY in your home to sell WITHOUT
having to be “short”. If you are thinking about a short sale I can help
you get an accurate value for your home and get back on your feet.
If you would like periodic updates on what is going on in
Your Neighborhood or the Ventura County Real Estate Market, Click on the Links!
Thanks for reading this,
Chris B Johnson.
Chris B Johnson is a Realtor with Prudential California Realty, Berkshire Hathaway HomeServices .
Certified HAFA Specialist Certified Distressed Property Expert Certified Short Sale Negotiator
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Chris B. Johnson, Realtor, CDPE, SFR, BPOR, HAFA, CDAT
Prudential California Realty
Cell # 805.208.0823 CA. BRE 10501699