Thinking Of Buying Or Selling Your Home Competition Is Coming

Dated: March 14 2018

Views: 263

Image title


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:

  1. A great price on their home as buyers outbid each other for it

  2. A quick sale as buyers have so little to choose from

  3. 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.”


Bottom Line


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. 

http://christina.buyinginaustin.com/ 

  Download my app to search for properties by texting 'Christina' to 512-270-7326


 Christina Haverty 

 REALTOR®, GREEN, GRI, CNE 

 512 693 8604 office /512 632 3162 cell 

 http://christina.buyinginaustin.com/ 

 Turning Savvy, Informed Austin Area Urbanites into Successful Homeowners, Investors, Sellers and Leaser’s!

Blog author image

Christina Haverty

Turning Savvy, Informed Austin Area Urbanites into Successful Homeowners, Investors, Sellers and Leaser’s!....

Latest Blog Posts

Can I Buy Or Sell A Home Without A Real Estate Agent

Today’s real estate market is one of the fastest-moving in recent memory. With record-low inventory in many market segments, we’re seeing multiple offers—and sometimes even bidding wars—for

Read More

Thai Cuisine On Parmer Lane

Eating out has been a luxury in the last year, and meeting friends even more of a treat.After working with clients on a beautiful Sunday, I met a friend for an early dinner at Thai Cuisine. He had

Read More

Is The Real Estate Market Going To Crash

While many areas of the economy have contracted, the housing market has stayed remarkably strong. But can the good news last?When COVID-related shutdowns began in March, real estate brokers and

Read More

2021 Austin Texas Real Estate Market Is A Bubble

Or is it?Elon Musk recently said in an interview: “It’s going to be the biggest boomtown that America has seen in 50 years”– Austin American Statesman February 12, 2021, and was speaking

Read More