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Are You Thinking Of Selling Your Home? Competition Is Coming!

Posted by David E. DeChant on Monday, August 13th, 2018 at 9:06am.

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of building permits issued in June was 850,000, a 0.8% increase from May.

How will this impact buyers?

More inventory means more options. Mark Fleming, First American’s Chief Economist, explained that this is good news for the housing market – especially for those looking to buy:

“The continued year-over-year growth in completions means more homes on the market in the short-term, offering some immediate relief in alleviating housing supply shortages.”

How will this impact sellers?

More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:

  1. A great price on their home as buyers outbid each other for it.
  2. A quick sale as buyers have such little inventory to choose from.
  3. Fewer hassles as buyers don’t want to “rock the boat” on the deal.

Bottom Line

If you are considering selling your house, you’ll want to beat this new competition to market to ensure that you get the most attention on your listing and the best price for your house.

 

 

Source: https://www.keepingcurrentmatters.com/2018/08/13/are-you-thinking-of-selling-your-home-competition-is-coming/ 

3 Responses to "Are You Thinking Of Selling Your Home? Competition Is Coming!"

Have You Outgrown Your Starter Home? wrote: [...]Links

Are You Thinking Of Selling Your Home? Competition Is Coming!
Existing Home Sales Cooling Off This Summer [INFOGRAPHIC]
Supply &[...]

Posted on Tuesday, August 14th, 2018 at 10:21am.

Homebuyers Willing To Sacrifice ‘Must-Haves’ In Favor Of Good School Districts wrote: [...]Links

Have You Outgrown Your Starter Home?
Are You Thinking Of Selling Your Home? Competition Is Coming!
Existing Home Sales Cooling Off This Summer [INFOGRAPHIC]




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Posted on Wednesday, August 15th, 2018 at 9:56am.

Housing Market: Another Gigantic Difference Between 2008 And 2018 wrote: [...]In Favor Of Good School Districts
Have You Outgrown Your Starter Home?
Are You Thinking Of Selling Your Home? Competition Is Coming!




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First Time Home Buyers (101)
For Buyers (132)
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Posted on Thursday, August 16th, 2018 at 2:38pm.

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