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We are already heading into June and 2017 is almost half over. The big news in our marketplace is that inventory for resale homes is almost at a crisis level.
Inventory has been low the last three or four years but this year, inventory is crazy low.
The only thing that is saving us and keeping sales going is builder inventory in our area. There is a lot of competition for new construction for the first time in years, and builders are able to actually stock up a little bit. The majority of our sales right now are actually new construction.
That’s the big news in our market, so if you are thinking of selling your home, now is a great time to put it on the market. After all, there is almost no competition on the resale market!
“The only thing saving us right now is new construction.”
As a homebuyer, it’s a little tough out there. The only thing you can really buy now is new construction.
Despite this low inventory, price increases aren’t as high as we thought they would be, which is good news for buyers.
If you have any questions about navigating our current market or if you are interested in selling your home, just give me a call or send me an email. I would be happy to help you!