In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise.
The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for a normal market.
Every monthNARreports on the number of buyers out in the market looking for homes, which is also known as buyer traffic. As seen on the map below, buyer demand in March was strong or very strong in 45 out of 50 states nationwide, and Washington, DC.
Many buyers are being confronted with a very competitive market in which they mustcompetewith other buyers for their dream homes (if they are even able to find a home they wish to purchase).
Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.
Many homeowners underestimate the amount of equity they currently have in their homes. According to a recent Fannie Mae study, 37% of homeowners believe that they have more than 20% equity in their homes. In reality, CoreLogic’s latest Equity Report tells us that 78.9% actually do!
Many homeowners who are undervaluing the equity they have in their homes may feel trapped, which may be contributing to the lack of inventory in the market.
If you are debating selling your home this year, let's meet up to evaluate the equity you have in your home, as well as the opportunities available in your market.
Author:Pamela Greene Phone: 623-512-6585 Dated: April 25th 2017 Views: 623 About Pamela: ...
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About Berkshire Hathaway Homes Services AZ Properties
We specialize in Horse/Acreage Property and Automotive/Acreage Properties for the Car Enthusiasts in Phoenix. You have found your Realtor Team and resource for buying and selling your next property. We have experience in both purchasing and listing properties within the Phoenix area. Whether you are looking for a Full Equestrian Facility, Ranchette or Acreage/Automobile Property, you have found the best in professional service.
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3 Charts That Shout, ‘List Your Home Today!’In school, we all lear
"I would only use Jessica if you would like to BEST Professional Real Estate Agent representing your home, whether you are purchasing or selling. She helped us purchase our home 4 years ago and most recently helped us with the sell of my Father-In-Law's home. Her experience and expertise with horse property along with the best marketing program resulted in a very, very quick sale. She made sure the Buyer and her Agent were always in communication and very responsive during the negotiations, offer and closing. Looking forward to working with Jessica in the future and you should to."