ARE THE SLIM PICKINGS RUMORS TRUE IN THE AREA OF REAL ESTATE?
Is it true what you are hearing about the real estate market in regard to inventory being at an all-time low? Yes, it sure is! It seems to be no secret that the number of houses that remains unsold seems to be getting lower and lower. This is often because of supply and demand. With more first-time home buyers and more and more people using houses as rentals, the houses are selling faster than ever. This means that buyers have less chances to buy and sellers have more chances to sell. Having said that, the buyers can still get some great houses even with the slim pickings market.
This also means that fewer people have their house listed for sale. For the house buyer this means they have to be ready to snap into action because if they play the waiting game, they house may be sold while they are thinking about it. In a market where the inventory is slim, they buyer has to act quickly. From the seller’s standpoint, these slim pickings market means that there is way less competition and their chances of selling quickly are much better. It’s a perfect market for a buyer who wants to sell their house quickly and get a fair price. It is also a great market for the buyer who is ready to buy without too much back and forth or thinking it over. That is not to say that you should buy or sell without doing your homework.
Keep in mind that house prices are still going up and could go down due to market fluctuation. Having said that, the chances of the market going down is just about as slim as the current home inventory. Often the house price will rise slowly over time. So, sellers and buyers should get a smile on their faces. Sellers should hang like a surfer dude and buyers should give their best offer and bve ready to act.