What to Do as a Real Estate Buyer in Q4 of 2017

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Filed under: Market Comentary

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This week, Cale Thomas of Elite Properties Direct joins me for my weekly live video and shares some very interesting facts and information…

According to The National Association of Realtors, there is an “inventory problem” with respect to home sales.  Simply put, this means that there is a shortage of houses for sale.  They further predict that this shortage could continue for the next year or perhaps even longer.

In addition, we are heading into the time of year where typically there are fewer active buyers.

Diving deeper into the numbers we find this to be historically true as a comparison between the months of January and June in 2017 reveals that in June, 305 homes went on the market and amazingly, 305 homes were sold.  In contrast, during the month of January, there were more homes listed than sold.

What this means is that the competition for homes is far greater in the summer months than it is in the winter months.

So what action should be taken now?

If you are a buyer or potential buyer, realize that now is “Go Time”!  Even though inventories may be lower, this is the time of year when you will face fewer competing offers and have a great opportunity to capitalize on motivated sellers.

If you are a Realtor®, now is the time to educate buyer who may be “on the fence” so that they understand the benefit of being in a market with less competition.

If you have any questions about this data or would like to discuss potential options, feel free to contact me at any time.

 

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