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Charlotte Bova

Charlotte Bova
Carolina One Real Estate
Charleston, SC 29407

843-763-5765
Contact Me

Our Newsletter & Blog

Too Few Homes

Why Are So Few Homes for Sale?

There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.”

First American just released the results of a survey1 which sheds light on the reasons for the current lack of supply.

1-http://firstam.com/economics/real-estate-sentiment-index/

The survey asked title agents and real estate professionals to identify what they believe are the top reasons for this lack of inventory in their markets. Here are the results of the survey:

  • 47% - existing homeowners are worried that they will not be able to find a home to buy
  • 26.5% - first-time buyer demand is absorbing a large share of available homes
  • 11.3% - existing homeowners’ mortgage rates are lower than the current rates
  • 10.6% - insufficient or negative equity in the home
  • 4.6% - foreign buyer demand is absorbing a large share of available homes

As the survey revealed, there is a shortage of current homeowners willing to put their homes on the market for one of three reasons (see numbers 1, 3 and 4 above).

Is this an opportunity for some homeowners?

The report on the survey explains:

“The crowd has spoken, and it seems in many markets home buyers and sellers alike are ‘imprisoned’ by the lack of housing inventory."


That leaves a tremendous opportunity for every homeowner not facing these concerns. If you can put your home on the market today, you are subject to far less competition than at any time in recent history. That will result in your home selling quickly and for the highest possible price.

BOTTOM LINE

While many homeowners are feeling imprisoned for multiple reasons, those who are not handcuffed by these concerns have a once in a lifetime opportunity to sell their houses at a peak selling time.

https://www.mykcm.com/2017/09/21/why-are-so-few-homes-for-sale/

March eNewsletter

GENERAL News & VIEWS
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U.S. HOUSING MARKET MOVING INTO 'BUY' TERRITORY
Purchasing a home remains a good investment as the U.S. housing market continues to move deeper into 'buy' territory.
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RESIDENTIAL CONSTRUCTION EMPLOYMENT GROWING
Employment in the residential construction sector has accelerated in the last three months.
 MORE


 

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BUILDER CONFIDENCE CONTINUES TO SETTLE BACK TO SUSTAINABLE LEVELS IN FEBRUARY
Builders remain optimistic for the year ahead, despite struggling to find lots and labor.
 MORE

February eNewsletter

GENERAL News & VIEWS
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SALES INCREASES REACH DOUBLE DIGITS IN 5 PRICE RANGES
NAR's most recent Existing Home Sales Report revealed that home sales are up dramatically in 5 of 6 price ranges.
 MORE


 

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BUILDER CONFIDENCE HOLDS FIRM IN JANUARY
Builder confidence in the market for newly-built single-family homes remained on firm ground in January.
 MORE


 

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PROVIDING POTENTIAL HOMEOWNERS WITH A LIFT
NeighborhoodLIFT program contributes to local economic recovery and neighborhood revitalization through homeownership.
 MORE



Charlotte Bova | 843-763-5765 | Contact Me
873 Orleans Rd, Suite 102 Charleston, SC 29407
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