“Inventory,” “low inventory,” “multiple offers,” “low,” “high,” “strong,” “new” — those words paint a clear picture of an unbalanced housing market, one where buyers are competing for too-few homes for sale. One major contributing factor to the state of the market is the fact that fewer homeowners seem interested in selling. But why?
- Most sellers are also hoping to buy, so they are facing the same market constraints as buyers.
- Housing supply has not kept up with demand because building has become increasingly expensive.
- Rising mortgage rates and equity concerns could be encouraging homeowners to stay put and renovate.
- Agents need to focus on educating clients (both buyers and sellers) and think outside the box when looking for listings.
Big plans for business in 2018?
Give yourself the tools to own the new year at Connect SF, July 17-20, 2018