Are A Flood of Listings Coming to the Market?
There has been concern about the diminishing supply of housing inventory and how it is impacting the real estate market. The situation might be about to change dramatically according to a recent survey by Lending Tree.
The survey revealed three interesting findings. Of those surveyed:
1. 63% have a positive outlook on the economy this year.
2. 69% have a positive outlook on housing this year.
3. 71% said they are considering selling their home this year.
While the first two findings are good news, the third was rather amazing.
71% of homeowners are considering selling their home in the next 12 months!
While we realize that 70% of the housing inventory in this country could never be turned over in a year, it is interesting that people are again thinking about moving. There has been a pent-up selling demand over the last few years because families lost both equity in their new homes and confidence in the economy. Rising prices have returned equity to many and an improving economy is again rebuilding consumer confidence.
Only time will tell. However, even it a small portion of that 71% actually decide to sell, this year's real estate market could be very interesting as we move forward.
Would you like a FREE equity evaluation of your current home? Just contact me by email at email@example.com or call direct at 330-352-9513. I'll be glad to help.
Tony Morganti, CRS, ABR