The real estate market is going very strong. In 2017 it could very well be that this is the year that the housing market stages a complete recovery.
However one of the biggest things that could stall that recovery is a lack of available inventory. Typically we have a six month supply of available homes for sale. Currently there is considerably less than six months supply. Demand for homes is still strong, there is no weakening in buyers demand that we can foresee. But if they don’t have homes to purchase then that demand will have to fall off.
Sellers are in control of this market. There is intense competition for the few homes that are for sale. There is a severe lack of available housing inventory, especially in the starter home market. The starter home market is currently at its lowest level in over 10 years. If inventory continues to remain tight, home sales will be forced to decline from the 2016 levels.
Why? Because there’s just plain simple a shortage of homes available for people to buy.
So we are in the market where demand for your house is strong. There’s also very little competition. So if you’re thinking of selling, this is a great time to do it.