March 17, 2021 by Apex Home Loans
In our current housing market, it seems difficult to find your dream home to buy. Before the health crisis hit us over a year ago, there was already a shortage of homes for sale. Many homeowners delayed their plans to sell at the same time while more buyers aimed to take advantage of record-low mortgage rates and purchase a home. This made the housing inventory drop even more. Experts consider this to be a big challenge while facing a hot market. As Danielle Hale, Chief Economist at realtor.com, explains:
“With buyers active in the market and seller participation lagging, homes are selling quickly and the total number available for sale at any point in time continues to drop lower. In January as a whole, the number of for sale homes dropped below 600,000.”
Every month, realtor.com releases new data showing the year-over-year change in inventory of existing homes for sale. In the map below, nationwide, inventory is 42.6% lower than it was at this time last year.
There are fewer existing homes being listed right now, many homes are simply selling faster than they’re being counted as current inventory. It’s like when a snowstorm is coming, and the grocery stores are stripped. That’s what is happening with the housing market: homes are being listed for sale, but not at a rate that can keep up with heavy demand from competitive buyers.
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210 Realty Group offers a wide range of Real Estate Services in metro San Antonio to help find your next forever home, sell your current home or expand your investment portfolio. Our agents have years of experience in and around San Antonio and are ready to tackle all your real estate needs. We know that buying & selling can be very stressful, which is why we cater our services to fit your specific needs. Give us a call today at 210.515.4885 and see how 210 Realty Group can streamline the buying and selling process for you. We can help you determine what you should sell your current home for and what is a fair market price for your new home.
Xavier Turpin, Realtor 808.866.8807