The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).
The map below was created after asking the question: “How would you rate buyer traffic in your area?”
The darker the blue, the stronger the demand for homes in that area. Only four states had a ‘stable’ demand level.
The index also asked: “How would you rate seller traffic in your area?”
As you can see from the map below, 25 states reported ‘weak’ seller traffic, 21 states reported ‘stable’ seller traffic, 3 states and Washington D.C. reported ‘strong’ seller traffic, and only 1 state reported ‘very strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.
Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet buyer demand, prices will continue to increase. If you are debating listing your home for sale, meet with a local real estate professional in your area who can help you capitalize on the demand in the market now!
Author:Anthony Sneed Phone: 931-436-6831 Dated: March 29th 2018 Views: 80 About Anthony: My name is Anthony Sneed. Although I was born at Ft. Hood Texas, I have lived in Clarksville Tenness...
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About Kriste Simmons & The Simmons Team of Reliant Realty ERA Powered -931-245-8800
Thank you for choosing The Simmons Team for your real estate needs! We make it our mission to provide you with top of the line services in any type of situation. We specialize in the Clarksville, Montgomery County, Fort Campbell and Hopkinsville areas, but will gladly help you with surrounding areas as well. Our local expertise and wide variety of Real Estate knowledge will benefit you whether you are buying or selling for the first or the tenth time.
"Kristie was truly amazing. It was great working with her with the ease of being able to start my home search before I even got out of the military and in a different state. Before me and my wife were even in the area we knew which area we wanted to be in and had lowered the amount of houses to look at to about 4 or 5. This was all due to Kristie and her hard work of putting the customer first and putting in the time to understand her customers. She is very knowledgeable in the realty business and will drop anything she is doing to lend a hand even after our purchase she is still very helpful. I HIGHLY RECOMMEND Kristie to anyone in need of a realtor that is ready to sell you your forever home. Thank you Kristie!"