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:
"We had the pleasure of working with our close friend, David A. Marshall throughout our first home buying experience. We had a meeting at 10 am, and by that afternoon, he had lined up three showings (one being our new home) that we were interested in. From the very first meeting until closing, he advocated on our behalf to get the most out of our purchase and this experience. His knowledge and expertise in the industry made him such a valuable resource for us. He was always available and willing to answer all of those "silly" questions that come with buying a home for the first time. We could have not asked for a better experience and we have David to thank."