Buyer Demand Still Outpacing The Supply Of Homes For Sale

Dated: March 27 2018

Views: 130

Buyer Demand Still Outpacing the Supply of Homes for Sale

Buyer Demand Still Outpacing the Supply of Homes for Sale | MyKCM

The price of any item is determined by the supply of that item, as well as 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).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

Buyer Demand Still Outpacing the Supply of Homes for Sale | MyKCM

The darker the blue, the stronger the demand for homes in that area. Only four states had a ‘stable’ demand level.

Seller Supply

The index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, 25 states reported ‘weak’ seller traffic, 21 states reported ‘stable’ seller traffic, 3 states and Washington D.C. reported ‘strong’ seller traffic, and only 1 state reported ‘very strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

Buyer Demand Still Outpacing the Supply of Homes for Sale | MyKCM

Bottom Line

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 buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in the market now!

Blog author image

Jennifer Dorn

Jennifer Dorn is an Associate Broker with Berkshire Hathaway HomeServices Select Realty (BHHS Select Realty) and served as the Managing Broker for both Realty World Select (RWS) and BHHS Select Realty....

Latest Blog Posts

Your House May Be High On The Buyer Wish List This Holiday Season 11252020

Your House May Be High on the Buyer Wish List This Holiday SeasonAround this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who

Read More

Your House May Be High On The Buyer Wish List This Holiday Season

Your House May Be High on the Buyer Wish List This Holiday SeasonAround this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who

Read More

Is Buying A Home Today A Good Financial Move 11242020

Is Buying a Home Today a Good Financial Move?There’s no doubt 2020 has been a challenging year. A global pandemic coupled with an economic recession has caused heartache for many. However, it has

Read More

Is Buying A Home Today A Good Financial Move

Is Buying a Home Today a Good Financial Move?There’s no doubt 2020 has been a challenging year. A global pandemic coupled with an economic recession has caused heartache for many. However, it has

Read More