Posts from February 2022
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Buyers Want To Know: Why Is Housing Supply Still So Low?
One key question that's top of mind for homebuyers this year is: why is it so hard to find a house to buy? The truth is, we're in the ultimate sellers' market, so real estate is ultra-competitive for buyers right now. The number of buyers searching for a home greatly outweighs how many homes are available for sale.
While low inventory in the housing market isn't new, it's a challenge that continues to grow over time. Here's a look at two reasons why today's housing supply is low and what that means for you.
1. New Home Construction Fell Behind for Several Years
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Why Right Now Is a Once-in-a-Lifetime Opportunity for Sellers
If you're thinking about selling your house in 2022, you truly have a once-in-a-lifetime opportunity at your fingertips. When selling anything, you always hope for strong demand for the item coupled with a limited supply. That maximizes your leverage when you're negotiating the sale. Home sellers are in that exact situation right now. Here's why.
Demand Is Very Strong
According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), 6.18 million homes were sold in 2021. This was the largest number of home sales in 15 years. Lawrence...