The available home Inventory has dropped again. We now have a total of 4.3 month supply of available homes nationally. Also, since there’s less inventory, the sales have slowed down a tad too. Meanwhile prices are still rising. And interest rates are still below 4%.
What does that mean if you want to buy.? You will probably be facing competition when you’re looking to purchase a home. You can better your chances if you can differentiate yourself from the other buyers that are looking for the same home. How do you do that? First get a pre-approval for your mortgage. That way you know how much you can afford before you start shopping.
And what does all this mean if you are a seller? Again, the demand is strong. Buyers are looking to make your home their home. And these buyers are ready willing and able to purchase. Get the price right the first time. Having the proper price on your home probably means there will be more buyers looking at your home. And the more buyers the better. This can get you a quick sale.
And if you’re buying or selling, hire a professional to help you. I mean hire a Realtor. Better yet, hire Bunny and Art. We can help. Call us.