Competition is Coming, Are You Thinking of Selling Your Home?

By
Real Estate Agent with Keller Williams Greater Omaha 20041001
Competition is Coming, Are You Thinking of Selling Your Home? | MyKCM

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.

How will this impact buyers?

More inventory means more options. Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:

“This rise in single-family housing construction will help tame home price growth, and the increase in multifamily units should continue to help slow rent growth.”

How will this impact sellers?

More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:

  1. A great price on their home as buyers outbid each other for it
  2. A quick sale as buyers have so little to choose from
  3. Fewer hassles as buyers don’t want to “rock the boat” on the deal

With an increase in competition, the seller may not enjoy these same benefits. As Chief Economist Nela Richardson, added:

“Because existing home inventory has been so low for so long, new construction is taking a larger share of the market…Builders meet the buyers and see the demand firsthand.”

Bottom Line

If you are considering selling your house, you’ll want to beat this new competition to market to ensure you get the most attention for your listing and the best price.

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Nebraska Douglas County Omaha
Groups:
Market Updates
Market Reports
Omaha Real Estate
Tags:
omaha real estate
omaha homes for sale
top omaha real estate agents
top omaha realtors
best omaha real estate agents
guaranteed sold
omaha guaranteed sale
best omaha realtors
omaha real estate professional

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,654,733
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

definitely great information to share with sellers - get your home on the market now!

Mar 06, 2018 06:13 AM #1
Rainmaker
3,978,839
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Sellers that have the house in order will come out great

Mar 06, 2018 06:39 AM #2
Rainmaker
742,600
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

Awesome blog - we are in desperate need of inventory here in TN.  So this is a great blog even for this area.

 

Mar 06, 2018 06:40 AM #3
Post a Comment
Spam prevention
Show All Comments

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

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

Rainmaker
817,674

The Trumm Team Omaha Homes for Sale, Real Estate

Ask me a question
*
*
*
*
Spam prevention

Additional Information