If you are debating listing your house for sale this year, here is the #1 reason not to wait!
Buyer Demand Continues to Outpace the Supply of Homes for Sale
TheNational Association of REALTORS’ (NAR)Chief EconomistLawrence Yun recently commented on the inventory:
“Last month’s dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, andnew and existing inventory is not keeping up with the fast pace homes are coming off the market.
Demand is easily outstripping supply in most of the countryand it’s stymieing many prospective buyers from finding a home to purchase”.
The latest Existing Home Sales Reportshows that there is currently a4.2-month supplyof homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 4.6% lower than a year ago.
The chart below details the year-over-year inventory shortages experienced over the last 12 months:
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