That’s pretty accurate. Many buyers right now are just sitting and waiting for a good home to come up for sale. The market is desperately in need of some good homes to sell.  In addition, the latest numbers do not really tell us anything about whether the market this year is headed up or is softening. Not yet.   So, with that said, here are the details…

DEMAND: Demand was up slightly more than last year but not too significantly. We can tell you that from a “man on the ground” perspective, there are a lot of buyers just waiting for a good home to buy, but they can’t find much. We have been talking to a lot of other Realtors and they are saying the same thing. So – the question is, do you or someone you know want to sell their home quickly and for top dollar because now is one of the best times to do it.

SUPPLY AND INVENTORY ACCUMULATION: Just like demand, supply and inventory accumulation was up slightly, but not enough to be of any concern yet.   We can tell you that just our team has a great number of homes we will be putting on the market in the next 45 days, more than we’ve ever had before.  So depending on the demand, the market could go either way.  Bottom line this time around is there isn’t very much to sell at all right now and we NEED homes to sell.

SOLD TO LIST RATIO: Typical of the season the sold to list price ratio is low, however it’s right in line with where it usually is this time of year. We expect to see a big jump in what sellers can expect to get for their homes this month, compared to what they are asking. If you didn’t get it before, NOW is the time to sell.

RATES: Due to less than great economic conditions both here and around the world, rates actually dropped over the last month, putting most rates below 4% again.  FHA is at or close to 3.5% with Conventional 30 yr at around 3.75% – 3.875%.

CONCLUSION: We need homes to put on the market and sell, especially if it is an “A+” home, meaning it’s in updated condition with little to do to the home.  If you or someone you know is considering putting their home on the market, please let us know asap. We’d love to consult with them to get them the information they need to make the best decision for them and their household.

Buyers are having a tough time right now.  The pickings are slim and what’s out there is typically the picked over homes that need work.  When an “A+” home does come on the market, there are typically multiple offers and it sells very quickly.   The very best thing for a buyer to do is work with a Buyer Specialist that sells a large number of homes and knows how to get them the win in a multiple offer situation. We love those situations because we have some tricks up our sleeves that usually help out a great deal.

If you know anyone who is looking to move, please let us know. We’d love to help them!