Why Are So Few Homes for Sale?

    Blog   Use the buttons below to share with your Personalized Posts profile...                 Why Are So Few Homes for Sale? Why Are So Few Homes for Sale? | MyKCM There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.”  First American just released the results of a survey which sheds light on the reasons for the current lack of supply.  The survey asked title agents and real estate professionals to identify what they believe are the top reasons for this lack of inventory in their markets. Here are the results of the survey:  47% - existing homeowners are worried that they will not be able to find a home to buy 5% - first-time buyer demand is absorbing a large share of available homes 3% - existing homeowners’ mortgage rates are lower than the current rates 6% - insufficient or negative equity in the home 6% - foreign buyer demand is absorbing a large share of available homes As the survey revealed, there is a shortage of current homeowners willing to put their homes on the market for one of three reasons (see numbers 1, 3 and 4 above).  Is this an opportunity for some homeowners? The report on the survey explains:  “The crowd has spoken, and it seems in many markets home buyers and sellers alike are ‘imprisoned’ by the lack of housing inventory."  That leaves a tremendous opportunity for every homeowner not facing these concerns. If you can put your home on the market today, you are subject to far less competition than at any time in recent history. That will result in your home selling quickly and for the highest possible price.  Bottom Line While many homeowners are feeling imprisoned for multiple reasons, those who are not handcuffed by these concerns have a once in a lifetime opportunity to sell their houses at a peak selling time.

    There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.”

    First American just released the results of a survey which sheds light on the reasons for the current lack of supply.

    The survey asked title agents and real estate professionals to identify what they believe are the top reasons for this lack of inventory in their markets. Here are the results of the survey:

    • 47% – existing homeowners are worried that they will not be able to find a home to buy
    • 5% – first-time buyer demand is absorbing a large share of available homes
    • 3% – existing homeowners’ mortgage rates are lower than the current rates
    • 6% – insufficient or negative equity in the home
    • 6% – foreign buyer demand is absorbing a large share of available homes

    As the survey revealed, there is a shortage of current homeowners willing to put their homes on the market for one of three reasons (see numbers 1, 3 and 4 above).

    Is this an opportunity for some homeowners?

    The report on the survey explains:

    “The crowd has spoken, and it seems in many markets home buyers and sellers alike are ‘imprisoned’ by the lack of housing inventory.”

    That leaves a tremendous opportunity for every homeowner not facing these concerns. If you can put your home on the market today, you are subject to far less competition than at any time in recent history. That will result in your home selling quickly and for the highest possible price.

    Bottom Line

    While many homeowners are feeling imprisoned for multiple reasons, those who are not handcuffed by these concerns have a once in a lifetime opportunity to sell their houses at a peak selling time.

    Keeping Current Matters with Rinehart Realty

    Trackback from your site.

    Jordan Forney

    Jordan is a recent graduate of Lenoir-Rhyne University where he received his BA in Multimedia Communications while also playing football all four years that he was enrolled. Jordan has experience in writing and photography from his time working for the school newspaper, Lenoir-Rhyne News (LRN). He also has marketing experience with WLRZ 99.3 where Jordan produced and aired PSAs and was in charge of marketing with the social media accounts. He was a part of the marketing team for the Lenoir Oiler's baseball team as well where he had a lot of the same responsibilities. Now Jordan works at Rinehart Realty where he is increasing his experience by posting blogs, maintaining social media accounts, and working directly under the Director of Marketing.

    Leave a Reply

    Contact Us Now

    Any questions, comments, or feedback