Industry News

Seller’s market begins to wane

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Three key indicators show that negotiating clout is beginning to shift from a home seller's market, with tight inventories, to a more balanced market of buyers and sellers across the United States with plenty of inventory in all price ranges, according to HouseHunt, an online resource for community information and home listings. The first indicator shows a decrease in the ratio of buyer-seller activity from 3-to-1 last spring to 2-to-1 in September, still with more buyers than sellers. Accordingly, inventories of unsold homes have grown from a very tight/limited supply last spring to a more balanced 50-50 ratio currently in many markets.   The second indicator is time on the market. HouseHunt reported that the time from listing to sale is now almost evenly split between 0-30 days and 30 days or more. Last spring, members reported 0-30 days on the market by almost a 2-to-1 margin. The third indicator of a more balanced housing market is the stabilization of selling price...