Home Buyer Demand Continues To Outpace Homes For Sale
Home Buyer Demand Continues To Outpace Homes For Sale. The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).
Buyer Demand
The map below was created after asking the question: “How would you rate buyer traffic in your area?”
Home Buyer Traffic
Home Buyer Demand Continues To Outpace Homes For Sale
Seller Supply
The index also asked: “How would you rate seller traffic in your area?”
As you can see from the map below, 21 states report a ‘weak’ sellers traffic, 25 states report a ‘stable’ sellers traffic, only 4 states and DC report a ‘strong’ sellers traffic. Meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.
Home Seller Traffic
Bottom Line
Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in the market now!
Call Us Now To Sell Your Home…
Office: 909.985.9392 or Text Us: 714.657.6634
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