Well, there were 850K new home permits issued in June of this year.
And that, my friend is your competition in the future.
Don't get me wrong, the shortage of homes on the market compared to the glut of buyers that we have was gong to be addressed in one way or the next. The building industry has seen the need for more homes and in conjunction with financiers addressed it. B
But you still have time to act while we are in a sellers market.
How will this impact buyers?
More inventory means more options. Mark Fleming,First American’s Chief Economist,explained that this is good news for the housing market – especially for those looking to buy:
“The continued year-over-year growth in completions means more homes on the market in the short-term, offering some immediate relief in alleviating housing supply shortages.”
How will this impact sellers?
More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:
A great price on their home as buyers outbid each other for it.
A quick sale as buyers have such little inventory to choose from.
Fewer hassles as buyers don’t want to “rock the boat” on the deal.
If you are considering selling your house, you’ll want to beat this new competition to market to ensure that you get the most attention on your listing and the best price for your house.
Author:Liz Abrams Phone: 757-644-3800 Dated: August 13th 2018 Views: 255 About Liz: Liz Abrams is co-founder and CEO of Abrams Realty. She and her Husband, Jim, Abrams, own and manage ...
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Every home sold should have a home inspection. So, this is good inform
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