Buyer demand is up. Interest rates are low. Home values are rising. All of these factors point to the strong housing market that is forecasted to continue throughout the rest of the year.
However, an overall lack of housing inventory may cause the industry to experience a little slow down. Buyer demand naturally increases during the summer months, but the current supply of homes to buy is not keeping up.
Here is a look at what three industry experts have to say:
Lawrence Yun, Chief Economist at National Association of Realtors
“Imbalance persists for mid-to-lower priced homes with solid demand and insufficient supply, which is consequently pushing up home prices.”
Mark Fleming, Chief Economist of First American
“Market conditions are ripe for increasing home sales with one glaring exception. The supply of homes for sale remains tight, keeping existing home sales below potential.”
Danielle Hale, Chief Economist of Realtor.com
“We’re not seeing as many new listings come up on the market…It was only 18 months ago that the number of homes for sale hit its lowest level in recorded history and sparked the fiercest competition among buyers we’ve ever seen.”
If you’re thinking of selling, now may be the best time to get your house listed for sale.
If you're thinking of buying, it may not get any better than it is right now for you to jump in.
In either case, call me so you can get started!