The real estate market is moving more and more into a complete recovery. Home values are up. Home sales are up. Distressed sales(foreclosures and short sales)have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the summer, supply is not keeping up.
Here are the thoughts of a few industry experts on the subject:
"Sellers are in the driver's seat this spring as the intense competition for the few homes for sale is forcing many buyers to be aggressive in their offers. Buyers are showing resiliency given the challenging conditions. However, at some point — and the sooner the better — price growth must ease to a healthier rate. Otherwise sales could slow if affordability conditions worsen."
“The lack of inventory is very real and could have a severe impact on home sales in the months to come. Traditionally, a balanced market would have an MRI (Months Remaining Inventory) between six and 10 months.
This month, only eight metros we track have MRIs over 10, compared to 27 last year and 48 two years ago—illustrating that this lack of inventory is not being driven by traditionally ‘hot’ markets, but is rather a broad-based, national phenomenon.”
“Tight housing inventory has been an important feature of the housing market at least since 2016. For-sale housing inventory, especially of starter homes, is currently at its lowest level in over ten years. If inventory continues to remain tight, home sales will likely decline from their 2016 levels. …all eyes are on housing inventory and whether or not it will meet the high demand.”
If you are thinking of selling, now may be the time. Demand for your house will be strongest at a time when there is very little competition. That could lead to a quick sale for a really good price.
Author:Matt Watson Phone: 214-417-9171 Dated: May 9th 2017 Views: 232 About Matt: ...
View our latest blog posts in your RSS reader. Click here to access.
You're excited about your next big move: You want to buy, build or sell a home in central Dallas, the urban heart of high-style Texas living. But you don't want to fight with paperwork or negotiate details. You just want a real estate agent who can.
I'm Matt Watson. I've worked with young professionals looking for upscale, uptown residences as well as empty-nesters looking to scale down and kick back. I've sold condos, townhouses, lofts, high-rises and homes (historic and otherwise) all over Dallas. And I know how to make your real estate purchase or sale easy and hassle-free.
If you're buying a home, I will:
Help you find a resid ence that matches your lifestyle.
Give you instant access to the Dallas Multiple Listing Service.
Help you find financing that works.
If you're building a home, I will:
Help you locate the right building site.
Help you select the home style, size and amenities that fit your neighborhood.
Help you select a qualified builder and coordinate construction.
If you're selling a home, I will:
Price your property based on market conditions and your personal goals.
Help you enhance your home's market appeal.
Market your property to the right buyer, not just any buyer.
And whether you're buying a home or selling a home, I will:
Always be your advocate and work in your best interest.
Always give you the facts you need to make the right decisions.
Always negotiate the details and handle the paperwork.
It's that simple. Welcome to the Matt Watson way of doing business.
Excited About Buying A Home This Year? Here’s What to WatchAs we kic
"I would highly recommend Matt Watson for anyone wishing to sell a home or condominium. I utilized him to sell my condo in Uptown and he was truly an asset to the sale. I feel as though he has a very strong handle on the Uptown condo market in particular and truly understood the transaction from beginning to end. Prior to the sale contract arriving, he also had a ready and willing renter for the unit, so I was covered in the event the sale fell through. In this economic environment, I believe the sale of a housing unit (at a reasonable price, which mine was) is impressive, but particularly a condominium. Matt was recommended to me by a someone else that had sold a condo unit through him and I will most certainly be doing the same thing going forward."