The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).
The map below was created after asking the question:“How would you rate buyer traffic in your area?”
The darker the blue, the stronger the demand for homes in that area. Only six states had a weak demand level.
The Index also asked:“How would you rate seller traffic in your area?”
As you can see from the map below, the majority of the country has weak Seller Traffic, meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.
Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale, meet with a local real estate professional in your area who can help you capitalize on the demand in the market now!
Here are TEN THINGS that require no talent. 1. Being on time
"Kristen's been a factor in our lives ever since we asked for her help in selling our house several years ago. When we were unable to sell due equity problems, she help us find a suitable renter and mentored us through the process of being first time landlords. Months later she was instrumental in us finding and buying the perfect home for our family in Aledo, Texas.
Over the last few years since buying she's kept in touch and helped us work through the various pitfalls of being a landlord despite the fact that she wasn't actually managing our rental property. When it came time to sell our rental property, it was not really a decision whom we wanted to represent us. What was surprising was how helpful and proactive she was in helping renovate our house for the eventual sale. Always ready with a practical suggestion or a professional resource that would give us fair pricing for quality work. Needless to say, it sold immediately and for great profit, for which we will always be grateful. She's really gone above the call of duty for us as I truly believe she would do for anyone.
In the past, we've hired realtor friends that have done a respectable job. With Kristen, we hired a realtor that did an amazing job and became a good friend in the process."