For years now, virtual home tours have helped real estate buyers far and wide find the perfect home. From long-distance military personnel being relocated, to investors expanding their portfolio, to
Thinking Of Buying Or Selling Your Home Competition Is Coming
Dated: March 14 2018
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.
How will this impact buyers?
More inventory means more options. Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:
“This rise in single-family housing construction will help tame home price growth, and the increase in multifamily units should continue to help slow rent growth.”
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 so little to choose from
Fewer hassles as buyers don’t want to “rock the boat” on the deal
With an increase in competition, the seller may not enjoy these same benefits. As ChiefEconomist Nela Richardson, added:
“Because existing home inventory has been so low for so long, new construction is taking a larger share of the market…Builders meet the buyers and see the demand firsthand.”
If you are considering selling your house, you’ll want to beat this new competition to market to ensure you get the most attention for your listing and the best price.
Interested in Buying or Selling a Home/Investment Property?
Please contact me anytime for a Free Market Value Analysis.
Download my app to search for properties by texting 'Christina' to 512-270-7326
REALTOR®, GREEN, GRI, CNE
512 693 8604 office /512 632 3162 cell
Turning Savvy, Informed Austin Area Urbanites into Successful Homeowners, Investors, Sellers and Leaser’s!
Turning Savvy, Informed Austin Area Urbanites into Successful Homeowners, Investors, Sellers and Leaser’s!....
Latest Blog Posts
This year has brought lots of changes, uncertainty, triumphs and defeats.I've been coping with 2020 by immersing myself in work and fitness. I've been a healthy eater all my life and have worked