Buyers Are out Looking Now!
The National Association Of Realtors (NAR) recently released findings that show now could be a great opportunity to sell your home. The concept of "supply and demand" indicates the best time for a product or service is realized when there is a low supply, limited competition and a high demand for that good or service.
Let's test this concept to the current residential real estate market.
Everyone knows that for more than a year now, the current inventory for homes and condos for sale has been far below the number needed to sustain a normal balanced market. A normal market can be defined where there is six months housing supply to satisfy the demand. A recent NAR report showed that at this time, there is only a 3.6 month supply of inventory currently on the market for sale. Supply is currently very low!
recent findings in a report from Foot Traffic Report reveal demand for housing is very strong. Foot Traffic Report measures the number of home-buyers in the market who are actively looking at properties for sale. They found "foot traffic" grew 10.5 points to 52.4 in March as the new season began. Demand is currently very high!
Sitting on the sidelines waiting to sell will only increase the amount of competition you and other sellers deciding to list their homes on the market later this summer. If you are considering whether to list your house, let's get together to discuss the conditions in your neighborhood market.
Fort Lauderdale Neighborhoods
Disclaimer:The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. John Sabia PA and Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. John Sabia PA and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.