A seller’s real-estate market?

Low inventory numbers have entry-level buyers scrambling as empty nesters are reluctant to sell. sold-sale-sign-over-clouds-grass-house-14063253

Home inventory in the U.S. has dropped to its lowest levels since 1999 according to Trulia.com, a San Francisco-based real estate research site.  Even though the U.S. has seen more than three years of a booming seller’s market for housing, there are plenty of Americans who are reluctant to sell their homes for a very simple reason: Where are they going to live?

The supply numbers are down 5.8% from a year ago and have declined year-over-year for the past 14 months. That compares to a more typical supply of 6 months in a healthy market, according to Trulia.Not only does the low housing inventory mean a bidding war for buyers, but sellers who may want to move to a smaller home and stay in the same market are quite often stuck because of the rise in prices for smaller homes that are being fought over by both first-time buyers and downsizing empty-nesters

“Although buying a home in a strong seller’s market can present lot of challenges, it is possible to secure a place you’ll love”  Sandy Flores Broker, Leading your way Home!

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New Home sales UP almost 26 percent!

 

Kitchen With Cherry Wood CabinetrySales of new single family houses were at 5.4 percent in July 2015 above the revised June rate of 481,000 and 25.8 percent above the July 2014 estimate of 403,000 single family homes.

The robust improvements in last week’s new housing starts numbers are especially encouraging for new home sales moving UP!

New home inventories increased in July to 218,000, the highest level since March 2010, and this trend will continue as the home building industry continues to expand.

Inventories of existing homes, however, have not improved significantly for several years compared with new constructions.