Three Reasons To Buy a Home in Market ShiftSome HighlightsThe housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about
#1 Reason to List your House Right NOW
Dated: February 12 2020
Views: 97
The #1 Reason to List Your House Right Now
The success of the U.S. residential real estate market, like any other market, is determined by supply and demand. This means we need to look at how many potential purchasers are in the market versus the number of houses that are available to buy. With early 2020 housing data now rolling in, it’s quite evident there are two big stories impacting this year’s residential real estate market:
1. Buyer demand is already extremely strong
2. Housing supply is at a historically low level
Demand
ShowingTime is a firm that compiles data from property showings scheduled across the country. The latest ShowingTime Showing Index reveals how showings have increased in each of the country’s four regions for five months in a row.
Supply
Move.com also just released information indicating that the number of homes currently for sale has declined rapidly and now sits at the lowest level in almost a decade. They explained,
“National housing inventory declined 13.6 percent in January, the steepest year-over-year decrease in more than 4 years, pushing the supply of for sale homes in the U.S. to its lowest level since realtor.com began tracking the data in 2012.”
In response to these numbers, Danielle Hale, Chief Economist at realtor.com, said,
"Homebuyers took advantage of low mortgage rates and stable listing prices to drive sales higher at the end of 2019, further depleting the already limited inventory of homes for sale. With fewer homes coming up for sale, we've hit another new low of for sale-listings in January."
The decrease in inventory impacted every price range, too. Here’s a graph showing the data released by move.com:
Bottom Line
Since there’s a historic shortage of homes for sale, putting your home on the market today could drive an excellent price and give you additional negotiating leverage when selling your house. Let’s get together to determine if listing your house now is your best move.
check your home value here: http://www.ocvalues.com
Arna Freedman
Looking for a Pro? Someone who will listen, negotiate and get the home you are looking for with the least amount of stress? I have been successfully working for buyers and sellers in Orange County for....
Latest Blog Posts
Affordability Issues affecting your home purchase today.You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s
Some HighlightsIf you’re deciding whether to rent or buy, consider the many financial benefits that come with owning a home.As a renter, you build your landlord’s
Having an experienced guide coaching you through the process of buying or selling a home is important in a normal market – but today’s market is far from normal. As a result,
Based on information from California Regional Multiple Listing Service, Inc. as of August 8, 2022 7:18 PM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Copyright 2022, Bay Area Real Estate Information Services, Inc. All Right Reserved.
All information is deemed reliable but not guaranteed. The listings on this site are displayed courtesy of the IDX program of BAREIS - Bay Area Real Estate Information Services MLS and may not be the listings of the site owner. All the listing data contained in this site is the copyrighted and confidential material of the Bay Area Real Estate Information Services MLS. Such information cannot be duplicated or distributed
Based on information from California Regional Multiple Listing Service, Inc. as of August 8, 2022 8:51 PM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
