Your House Could Be the Oasis in an Inventory Desert!!

Dated: May 24 2021

Views: 294

Your House Could Be the Oasis in an Inventory Desert

Homebuyers are flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon since experts forecast a steady rise in both rates and home prices this year and next. As a result, buyer demand greatly outweighs the current housing supply. Here’s how the shortage of houses for sale sets yours up to be the oasis in an inventory desert.

According to the National Association of Realtors (NAR), today’s housing inventory sits at an incredibly low 2.1-month supply, far below the 6-month mark for a neutral market. Inventory of single-family homes a year ago was already very low, and as you can see in the graph below, this year’s levels are even lower:Your House Could Be the Oasis in an Inventory Desert | Keeping Current MattersDue to these market conditions, today’s buyers frequently enter fierce bidding wars while trying to purchase a home. This in turn drives up home prices and gives sellers incredible leverage in the negotiation process, two big wins if you’re going to sell your house this year.

Bottom Line

In such a hot market, it can feel as though the supply of homes has virtually dried up, leaving buyers to wander in an inventory desert. That’s why there’s never been a better time to sell. To a parched buyer needing to secure a home as soon as possible, your house could be a true oasis.

Written by KCM Crew

Latest Blog Posts

Top 7 Common Home Inspection Findings

Whether you’re a first-time buyer or not, purchasing a new home is an exciting accomplishment. It can also represent a lot of work and a serious investment, hence the importance of hiring a

Read More

Real Estate: It’s Still a Lack of Supply, Not a Lack of Demand Real Estate: It’s Still a Lack of Supply, Not a Lack of Demand

Real Estate: It’s Still a Lack of Supply, Not a Lack of DemandOne of the big questions real estate professionals are asking these days is whether prospective homebuyers still believe

Read More

Renting in 2021

In many areas across the country, according to recent data from realtor.com, median rental prices have reached their highest point ever recorded. Rents increased by 8.1 percent from the same time

Read More

SIX THINGS HOME BUYERS NEED TO BE AWARE OF IN TODAYS MARKET

Six Things Home Buyers Need To Be Aware Of  In Todays Market. But with help from 12 Stones NWA Brokered by eXp Realty Rogers we are here to walk you through them all!“Let the buyer.&

Read More