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Low Inventory Explodes Sellers Market


Low Inventory – March 2013

Low Inventory

Low Overall Inventory

How Low is Low?

You might have heard that low inventory is helping the housing market get better.  And it is.  In fact, housing inventory is the lowest its been since the start of this century!  Look at the chart above and you can see the decline started back mid year and it keeps going down but buyer demand is still strong.  That’s a good sign because winter months are generally the weakest for real estate sales.

Are prices going up?

Yes and no.  It really depends on your area and neighborhood but there is a trend that it’s heading in the 3% range and better.  It will also depend on the condition location and pricing of the property.  Buyer demand is strong and continues to be the factor driving the housing market.  If there are no for sales signs in your neighborhood and low inventory exists than prices are probably going up, especially in high demand locations.

Will sellers begin to put homes on the market for spring?

I haven’t seen it yet but it should be coming.  Dallas supply follows this national trend of  4 months and below, in fact many local areas and popular neighborhoods are below that.   Low inventory exists in resales as well as new construction.

Is it time to sell?

These are questions to ask yourself:

  • How many for sale signs are in your neighborhood?
  • Are neighbors selling their homes quickly?
  • Are deals being made without the property going on the market?

Selling your home will also depend on your individual goals and circumstances.  If you’d like more information about your specific area and home inventory levels  contact us directly by phone or email.  It should be an interesting spring!

 

About Terry W. Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite & know stuff, ask me...

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