Now that you’ve searched Zillow, Trulia, realtor.com and other websites….and looked out your window at what’s happening in your own subdivision…What is your real estate market like?
Reports are coming in from all corners of the US residential real estate market – No inventory for choice!
5-6-2013: According to this Realty Times article, 75% of Buyers think it’s a good time to buy and about 30% of Sellers think it’s a good time to sell – hence the disparity of current inventory. http://realtytimes.com/rtpages/20130506_ownerrenterregrets.htm
At the time of this post, there are fewer than 17,000 single family, condo, & town home listings in the Atlanta market on FMLS. Down from the reported 100,000+ during the housing boom of the mid 2000’s.
Are there plenty of choices, or are you limited?
New home sales are climbing since they are new, available, and builder financing give you incentives. Also, a reported 36% of all home sales in 2012 were in cash. Alot of large investors/hedge funds bought up thousands of foreclosures as future rentals and when prices return, future sales. This depleted the inventory levels and kept prices low for a while.
Inventory levels in Massachusetts are at an 8 year low