It is Becoming a Housing Seller’s Market
Buyers in many parts of the country may have know this for months “It is becoming a home seller’s market”
In January the number of homes for sale fell to 4.5% (1.74 Million homes for sale). Which is the lowest since 1999 when there where only 1.71 million homes on the market.
With an increase of buyers on the market chasing a shrinking supply of homes on the we are seeing prices trending upwards in most areas of the county.
Normally we would expect the inventories to increase towards the spring and summer however a lot of homeowners are still upside down and will need to wait to regain more equity in there homes before they can make a move.
There is still uncertainties with economist especially if there are no homes for buyers to purchase. However if we do see an increase in inventories we could see home sales rise to 5.2 million this year which is nearly a 12% rise from last year according to Goldman Sachs.