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Why Are So Few Homes for Sale?

Nov 7, 2017 7:54:20 PM / by cmc-admin posted in Uncategorised

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There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.”

First American just released the results of a survey which sheds light on the reasons for the current lack of supply.

The survey asked title agents and real estate professionals to identify what they believe are the top reasons for this lack of inventory in their markets. Here are the results of the survey:

  • 47% - existing homeowners are worried that they will not be able to find a home to buy
  • 26.5% - first-time buyer demand is absorbing a large share of available homes
  • 11.3% - existing homeowners’ mortgage rates are lower than the current rates
  • 10.6% - insufficient or negative equity in the home
  • 4.6% - foreign buyer demand is absorbing a large share of available homes

As the survey revealed, there is a shortage of current homeowners willing to put their homes on the market for one of three reasons (see numbers 1, 3 and 4 above).

Is this an opportunity for some homeowners?

The report on the survey explains:

“The crowd has spoken, and it seems in many markets home buyers and sellers alike are ‘imprisoned’ by the lack of housing inventory."

That leaves a tremendous opportunity for every homeowner not facing these concerns. If you can put your home on the market today, you are subject to far less competition than at any time in recent history. That will result in your home selling quickly and for the highest possible price.

Bottom Line

While many homeowners are feeling imprisoned for multiple reasons, those who are not handcuffed by these concerns have a once in a lifetime opportunity to sell their houses at a peak selling time.

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More Americans Say Now is a Good Time to Sell!

Nov 7, 2017 7:53:26 PM / by cmc-admin posted in Uncategorised

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Recently released data from Fannie Mae’s National Housing Survey revealed that rising home prices were the catalyst behind an eight-point jump in the net percentage of respondents who say now is a good time to sell. The index is now 21 points higher than it was this time last year.

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Report: Homeownership Is a Precondition of the American Dream

Nov 7, 2017 7:50:46 PM / by cmc-admin posted in Uncategorised

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Hearth just released their 2017 State of the American Dream report which showed that Americans still see homeownership as an integral piece of the American Dream. The report confirmed that “all generations–including millennials–agree homeownership is very important to achieving the American Dream.

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America Needs Your House

Nov 7, 2017 7:35:22 PM / by cmc-admin posted in Uncategorised

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The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added):

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