However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.
Here are the thoughts of a few industry experts on the subject:
National Association of Realtors:
“Total housing inventory at the end of November dropped 7.2 percent to 1.67 million existing homes available
for sale, and is now 9.7 percent lower than a year ago (1.85 million) and has fallen year-over-year for 30
consecutive months. Unsold inventory is at a 3.4-month supply at the current sales pace, which is down
from 4.0 months a year ago.”
Joseph Kirchner, Senior Economist for Realtor.com:
“The increases in single-family permits and starts show that builders are planning and starting new construction
projects, that’s a good thing because it will help to relieve the shortage of homes on the market.”
Sam Khater, Deputy Chief Economist at CoreLogic:
“Inventory is tighter than it appears. It’s much lower for entry-level buyers.”
If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price. Meet with me today, and I can explain to you exactly what’s going on in your local area!
If you have any questions about how to list your home and buy a new home simultaneously, just call/text me at 602-295-6807 and I can help answer all of your questions!
Helping to Make a Difference in Your Life
Troy Erickson Realtor