Fall Inventory Slows: Study Shows Lack of Existing Home Inventory

By
Real Estate Agent with Luxury Valley Homes Scottsdale SA524104000
Fall Inventory Slows - There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.”
 
First American just released the results of a survey which sheds light on the reasons for the current lack of supply.
 
The survey asked title agents and real estate professionals to identify what they believe are the top reasons for this lack of inventory in their markets. Here are the results of the survey:
 
Fall Inventory Slows

Fall Inventory Slows

  • The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report.
  • First-time homebuyers made up 31% of all sales in August.
  • Homes are selling quickly with 51% of homes on the market for less than a month.
  • A limited supply continues to drive up prices for the 66th consecutive month.

 

“The crowd has spoken, and it seems in many markets home buyers and sellers alike are ‘imprisoned’ by the lack of housing inventory."

That leaves a tremendous opportunity for every homeowner not facing these concerns. If you can put your home on the market today, you are subject to far less competition than at any time in recent history. That will result in your home selling quickly and for the highest possible price.
Bottom Line While many homeowners are feeling imprisoned for multiple reasons, those who are not handcuffed by these concerns have a once in a lifetime opportunity to sell their houses at a peak selling time. Those that read this also found the article that follows useful.
 
Why Millennials Choose to Buy “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.” The top reason millennials choose to buy is to have control [...]
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Arizona Maricopa County Scottsdale
Groups:
Most Active ActiveRain Blogging Agents
Tags:
jeff daley
luxury valley homes
jane and jeff daley
scottsdale real estae arizona
fall inventory sales

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
363,508

Jane & Jeff Daley, PhD

Scottsdale Real Estate Arizona
Show me current listings
*
*
*
*
Spam prevention

Additional Information