The real estate market is moving closer to a complete recovery. The values of homes home sales are up. The distressed sales, which are the foreclosures and short sales, are no longer as plentiful as they used to be. It’s looking more and more like 2017 will be the year that the housing market recovers.
But there is one thing which is causing it to slow down. And that is very simply a lack of available inventory.
It looks like buyer demand will continue to be strong throughout the summer but there is just not enough supply. This lack of inventory is real. And this lack of inventory could have a very severe impact on home sales.
As I’ve said before, a traditional estate market will have a six-month plus supply of available homes. Our current inventory levels of available homes is considerably less than 6 months.
So if you’re thinking of selling now would be a great time. There is still a lot of demand for the house that you’re selling. And to go along with a strong demand is that there is very little competition.