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Housing Supply Shortage

March 6, 2012 |  Article By :   | 

It sounds strange to say that there is a housing supply shortage but it is true!  There is a shortage of homes under $300,000 that are traditional sales.  There are foreclosures and short sales out there but for buyers that want a traditional sale, there is a shortage which is causing multiple offer situations resulting in unhappy buyers and happy sellers.  Now with the spring market starting the shortage will only get worse.

What I am finding is:

  1. homes priced under $300,000 are really in a seller’s market because there are more buyers than sellers
  2. there isn’t enough good inventory for buyers to choose from which is why they are finding themselves in multiple offer situations
  3. the market needs more good listings for the buyers to choose from

What does this mean for you or your family and friends?  If you or someone you know owns a home under $300,000 and wants to move up to a more expensive home, over $300,000, this is the time!  Contact me or have your family/friends contact me.  I would love to meet with them to explain what the current market is doing and show them the benefits to making their move now.  Interest rates are still low as well, so it is a winning situation right now!  As always I truly appreciate all your referrals!

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