Oh inventory, where for art thou?

By
Real Estate Agent with Atlanta Communities 303302

When you hear a real estate talk about "Inventory", they are usually referring to actual homes that are listed for sale in the area. The balance between inventory and buyers in the market looking to buy homes drives whether the market is a "Sellers Market" or a "Buyers Market". At the moment, in the Atlanta area, we are in a seller's market. This means that there are too few homes for sale for the number of buyers looking to buy.

What does this mean for sellers? It means that you may see multiple offers on your home quickly after your home is listed. Many homes in the area that are receiving multiple offers are also selling for above list price. Sellers are not having to offer incentives such as closing costs or as many repairs as in the past as well.

How about buyers? Buyers are having to react quickly when they see a home they like. We have a saying in the industry,"If you have to sleep on it, you will never sleep in it". Buyers are having to make strong offers on homes they like to even be considered. Expect to compete for the home of your dreams with several other interested buyers.

Will it always be this way? No. Historically, the housing industry bounces from sellers to buyers markets. If you have been shut out as a buyer, don't give up. It will be a buyers market again sometime. 

In order to decide your best course of action during these times, as a buyer or a seller, contact a professional real estate agent to help.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

Comments (13)

Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Yes, many places are seeing seller's markets now. Buyers have got to be pre-approved and ready to go, and sellers have to be ready for the offers to come in!

Aug 28, 2020 05:10 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Peter. The suburbs of Chicago are suffering from thinventory while the downtown condo market is getting softer. Enjoy your day!

Aug 28, 2020 05:11 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Supply has been low since the 2007 Crash, builders stopped building and many re-sales were converted to rentals, so we are 10 years in arrears for new housing to catch up to demand. Inflation will switch the market from sellers to buyers, but that is about 1-2 years away according to chief economists in our industry.

Aug 28, 2020 06:45 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Peter - even in times of plentiful inventory, a well-prepared buyer understands the importance of sense of urgency and the power of decisiveness.  

Aug 28, 2020 07:20 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Peter,  Low inventory is one of our biggest problem in the Denver, Colorado area.

 

Aug 28, 2020 07:35 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Peter den Boer - great explanation about supply and demand.  It is a double edged sword for people looking to sell and buy something else.

Aug 28, 2020 08:27 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

This is a wonderful post on what a seller/buyer should expect in these times.  Wishing you a great weekend. A

Aug 28, 2020 09:09 AM
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Glad your market is doing well. Buyers can't wait or the home will not be there.

Aug 28, 2020 12:44 PM
Chris Ivy
Ivy Vine Investments - Memphis, TN
Sell Your House Fast For Cash In Memphis Tennessee

Great post Peter!  I'm going to have to use this quote below.

 

If you have to sleep on it, you will never sleep in it"

Aug 28, 2020 05:10 PM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I kind of enjoy a market where buyers are fighting over homes, competition certainly motivates people to act rather than sit on the fence, haha.

Aug 29, 2020 07:28 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

we actually have buyers putting in offers before they get an appointment right now.  It's the only way to get a house.

Aug 29, 2020 10:51 AM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Low inventory has been an issue for quite some time in the Greater Sacramento region, Peter!

Aug 29, 2020 11:53 PM