Tag Archives: Inventory

The flipside of the sellers-market economy of 2017 is that sellers looking to buy a new home are running into the same problems as all other buyers. A new study by Redfin shows that two-thirds of sellers are worried about finding a new property once they sell. And low inventories are reeling from the increasing speed of sales.

The Demand index, based on Redfin customer requests for home tours and writing offers, shows that buyers requesting tours were down 8.2 percent while buyers requesting writing offers were down 7.7 percent month-over-month. Redfin blames the slight reduction in demand on the small inventory.

On Wednesday, March 29th, the National Association of Realtor (NAR) will be releasing its latest Pending Home Sales Index. Lawrence Yun, Chief Economist for NAR, stated that a decline in contract signings during December 2016 indicated that activity will likely be “choppy in coming months,” as buyers struggle to find the perfect home in their price range. Also, read the full lineup of industry reports that will be releasing this week.

Fifty-six percent of renters feel that now is a good time to buy a home, which is down from 57 percent last quarter, and down even further from 62 percent a year ago. Comparatively, 80 percent of homeowners feel now is a good time to buy.

Despite rising interest rates, real estate sales are brisk, limited only by the supply of available listings. Demand from millennials and first-time homebuyers remains robust. Economist says this has resulted in a shrinking underperformance gap.

Homes stayed on the market for an average of two days more in February than January.

February is expected to see record-high listing prices and the shortest days on market since the recession.

Where are home buyers snatching up homes the fastest during a traditionally slow time in the market?

Many buyers reported that finding a home that fits their needs was the biggest obstacle to buying a home. Lately, however, more prospective buyers are reporting that they are having trouble simply finding a home at all.

Dr. Issi Romem, Chief Economist at BuildZoom, sat down with MReport to dive deeper into the home building sector and provide some insight on what to expect for the rest of the year.