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How Does The Supply Of Homes For Sale Impact Buyer Demand?

Posted by David E. DeChant on Monday, October 1st, 2018 at 9:09am.

The price of any item is determined by the supply of that item, as well as the market’s demand for it. 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).

Buyer 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 is in that area. The survey showed that in 38 out of 50 states buyer demand was slightly lower than this time last year but remains strong. Only six states had a ‘stable’ demand level.

Seller Supply 

The index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, 23 states reported ‘weak’ seller traffic, 22 states and Washington D.C. reported ‘stable’ seller traffic, and 5 states reported ‘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 homes.

Bottom Line

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!                                    Talk to a Redco Agent Today!

 

Source: https://www.keepingcurrentmatters.com/2018/10/01/how-does-the-supply-of-homes-for-sale-impact-buyer-demand/ 

3 Responses to "How Does The Supply Of Homes For Sale Impact Buyer Demand?"

Mortgage Interest Rates Are Still Going Up… Should You Wait To Buy? wrote: [...]Links

How Does The Supply Of Homes For Sale Impact Buyer Demand?
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Posted on Tuesday, October 2nd, 2018 at 12:03pm.

2 Factors To Watch In Today’s Real Estate Market Whether Buying Or Selling wrote: [...]
Mortgage Interest Rates Are Still Going Up… Should You Wait To Buy?
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Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC]




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Posted on Wednesday, October 3rd, 2018 at 9:46am.

Are We About To Enter A Buyers’ Market? wrote: [...] Mortgage Interest Rates Are Still Going Up… Should You Wait To Buy?
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Posted on Thursday, October 4th, 2018 at 10:42am.

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