Real Estate Inventory Of Unsold Homes Growing Steadily Across The Nation

Real Estate Inventory Of Unsold Homes Growing Steadily Across The Nation



Real Estate: Inventory of​ Unsold Homes Growing Steadily Across the​ Nation
The nation’s inventory of​ unsold homes – an​ important component of​ a​ more balanced housing market in​ the​ second half of​ 2018 – is​ growing steadily in​ many areas of​ the​ country even though buyer demand continues strong, according to​ the​ latest HouseHunt, Inc., quarterly Current Market Conditions survey .​
the​ percentage of​ member real estate agents reporting plentiful vs .​
limited supplies increased from 33% in​ the​ first quarter to​ 38% in​ April, May and​ June .​

Exceptions would be South Florida, Arizona, Southern California and​ certain other housing and​ job growth hot spots .​
Market equilibrium would be attained when the​ present 4.3-month national housing supply increases to​ about six months, or​ about a​ 50-50 buyer-seller ratio.
HouseHunt, Inc., is​ a​ consumer-oriented Internet firm that provides valuable free information to​ homeowners, home buyers and​ home sellers .​
Survey results are based on Current Market Conditions sales data reported by HouseHunt’s Exclusive Agent Referral Network (EARN) members in​ 47 states .​
Survey results also included:
• Average national home price appreciation slowed to​ eight to​ 10% on an​ annualized basis in​ the​ second quarter as​ compared to​ higher, more substantial double-digit price increases in​ 12-month comparisons in​ the​ past two to​ three years.
• First-time buyer activity declined from 40% in​ the​ first quarter of​ this year to​ 35% in​ the​ second quarter even though mortgage interest rates continued near historic lows and​ funding is​ available and​ relatively easy to​ find in​ interest-only and​ other exotic loans .​
• Nine of​ 10 home sellers are getting 95% or​ more of​ their asking prices .​
Nearly half of​ those are getting 100% or​ more .​
An overwhelming majority of​ sellers are still getting multiple offers.
• Sixty-five percent of​ listings are selling in​ 30 days or​ less.
Michael Bearden, president and​ CEO of​ HouseHunt, Inc., welcomes the​ near-term probability of​ a​ slower-paced, more balanced housing market: This would be positive news for​ consumers, particularly for​ first time and​ other entry level home buyers .​
Slower appreciation and​ a​ plentiful supply of​ unsold homes would certainly energize the​ entire market in​ all price ranges .​
It would also dissipate fears of​ a​ housing bubble price collapse.
HouseHunt’s two primary websites, www.HouseHunt.com and​ www.moveUp.com, offer consumers free information on local communities, free on-line access to​ property listings, free on-line sales data on recent home sales in​ their neighborhoods, free electronic property-matching (where available), buying and​ selling information, and​ access to​ some of​ the​ nation’s top-producing and​ most knowledgeable real estate agents regardless of​ brand affiliation or​ geographic limitations.




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