2014 Prediction: Supply Will Struggle to Keep Up with Demand
There is a dramatic increase in demand for housing expected this year and making sure there is enough inventory to satisfy this demand will be a challenge for most of 2014.
We know that in order to have a balanced real estate market there should be between 5-6 months of inventory for sale. Nationally, we are just about at the 5 month level. As the spring selling season approaches, a new wave of housing inventory must come to market to keep up with the increasing demand of buyers.
If you are thinking of selling this year, you could very well experience a high level of demand for your property. To learn more about the current real estate market in your area please contact me. I will be glad to help.
Tony Morganti, CRS, ABR