Last week, we reported on the lack of housing supply and how that was impacting the real estate market. Today, we want to let you know what other industry experts are saying.
“It’s kind of a seesaw right now between supply and demand. One of the reasons for fewer sales is not so much a lack of demand but a lack of supply, especially in the price range the majority of buyers were looking for.”
“Total sales are still running below expectations for the year. Don't blame winter weather, though. Blame the lack of supply.”
“Inventory is still very low (down 0.5% year-over-year in February). This will be important to watch over the next month at the start of the spring buying season.”
“Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices to near unsuitable levels. Stronger price growth is a boon for homeowners looking to build additional equity.”
“The National Housing Trend Report shows that inventory has decreased 10.9 percent year over year.”
And some experts are actually calling it a “seller’s market”
“Tight inventory is a main reason the ball is still in the sellers' court.”
“We’re a bit low on the supply-side which could force prices up for buyers, further hammering home that we’re in a seller’s market.”
If you are debating putting your home on the market this year, now may be the time. The number of buyers ready and willing to make a purchase is at the highest level in years. Contact a local professional in your area to get the process started.