How's Inventory Impact?

By
Real Estate Agent with Keller Williams Realty - Topsfield, MA 92593-B

Inventory is still low. It seems to have increased slightly over the Spring months. In our area, homes up to $450K are selling quickly while higher-end homes are lagging with higher Days on Market and price adjustments. It is my opinion, just because you can make the mortgage payment doesn't mean you can afford the home. Prices are rising and right around the immediate Boston area things are price ridiculous. Will there be a correction? That remains to be seen.

 

A Lack Of Inventory Continues To Impact The Housing Market

A Lack of Inventory Continues to Impact the Housing Market

The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up and distressed sales (foreclosures and short sales) have fallen to their lowest point in years. The market will continue to strengthen in 2019.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory! Buyer demand naturally increases during the summer months, but supply has not kept up.

Here are the thoughts of a few industry experts on the subject:

Lawrence Yun, Chief Economist at National Association of Realtors

“Further increases in inventory are highly desirable to keep home prices in check, the sustained steady gains in home sales can occur when home price appreciation grows at roughly the same pace as wage growth.”

Jessica Lautz, Vice President of NAR

“There’s a supply-demand mismatch… More inventory is needed at the lower end and a price reduction may be needed at the upper end.”

Danielle Hale, Chief Economist of Realtor.com

“Heading into spring, U.S. prices are expected to continue to rise and inventory is expected to continue to increase, but at a slower pace than we’ve seen the last few months as fewer sellers want to contend with this year’s more challenging conditions… A buyer’s experience will vary notably depending on the market and price point they’re targeting.”

Bottom Line

If you are thinking of selling, now may be the time! Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price!

Posted by

I pray that God our Father and the Lord Jesus Christ will be kind to you and bless you with peace

2 Thessalonians 1:2

 

Doug Dawes REALTOR®, AWREP, LMC

Broker Sales Associate

KELLER WILLIAMS REALTY - Topsfield/Newburyport

49 Main Street
Topsfield, MA 01983
 978-887-3995  ~ Office
 978-270-3037  ~ Cell
 DougDawes@KW.com

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Topic:
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New Hampshire - Real Estate and Life in The Granite State!
MA REALTORS
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Tags:
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Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Doug Dawes - this is the problem that is hold sales back in many areas.

May 14, 2019 09:59 AM #1
Rainmaker
3,491,930
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good afternoon Doug. Your points are well made. Inventory is always a factor.

May 14, 2019 11:14 AM #2
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

We've seen a slow build up of homes on the market in the Charlotte area. I have double the listings I had this time last year.

May 14, 2019 01:36 PM #3
Rainmaker
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Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Grant Schneider 

The buyers are there and they are running the prices up. 

May 16, 2019 05:42 AM #4
Rainmaker
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Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Sheila Anderson 

I still haven't really figured out why there is reluctance to sell

May 16, 2019 05:43 AM #5
Rainmaker
721,889
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Debe Maxwell, CRS 

That is a good thing for Charlotte AND you.

May 16, 2019 05:44 AM #6
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