Lawrence Yun who is the Chief Economist with The National Assocaiation of Realtors has recently commented on this gap between supply and demand.
“While feedback from REALTORS® continues to suggest healthy levels of buyer interest, available listings that are move-in ready and in affordable price ranges remain hard to come by for many would-be buyers.”
The most recent Existing Home Sales Report shows that there is a 5.1 month supply of homes for sale. This is lower than the 6 month benchmark that we normally consider to be a balanced market. This is even lower than the numbers for 2014 in November when we compare year over year statistics.
Below is a chart that shows what we experienced last year.
Cape Coral Gulf Access Homes are experiencing the same shortage and now is proving to be a great time to sell.