In the starter and trade-up home categories, there were significantly more buyers than there were homes for sale, causing a seller’s market. In the premium, or luxury, home categories, the opposite was true as there was a surplus of these homes compared to the buyers that were out searching for their dream homes, which created a buyer’s market.
According to the National Association of Realtors latest Existing Home Sales Report, the inventory of existing homes for sale in today’s market is at a 4.2-month supply. Inventory is now 6.5% lower than this time last year, marking the 27th consecutive month of year-over-year decreases.
Looking at the latest report from Trulia, we can see that not much has changed, and in fact, recent natural disasters across the country have made inventory conditions even more dire.
Trulia’s market mismatch score measures the search interest of buyers against the category of homes that are available on the market. For example: “if 60% of buyers are searching for starter homes but only 40% of listings are starter homes, [the] market mismatch score for starter homes would be 20.”
The results of their latest analysis are detailed in the chart below.
Premium homebuyers, on the other hand, have the best chance of less competition and more inventory of listings in their price range with a 14.7-point surplus, which is creating more of a buyer’s market.
Source: Click Me
Approval Hotline: | Call/Text: (561) 316-6800
Buyer Referral Hotline : | Call/Text: (561) 316-6800
Office Text Line: 561-530-2223
[su_button url=”https://christianpenner.com/MyBusinessCard” target=”blank” background=”#e6280e” wide=”yes”]Mobile Contact Card[/su_button][su_button url=”http://christianpenner.lendtelligent.com/bsa.aspx” target=”blank” background=”#e6280e” wide=”yes”]BorrowSmart Analysis App[/su_button][su_button url=”http://christianpenner.borrowsmartmobile.com/” target=”blank” background=”#e6280e” wide=”yes”]Mobile App Tool Kit[/su_button] [su_button url=”https://www.facebook.com/ThePennerMortgageTeam/” target=”blank” background=”#4950b5″ wide=”yes”]Facebook[/su_button][su_button url=”http://www.christianpennersloanapp.com/” target=”blank” background=”#4950b5″ wide=”yes”]Apply Now[/su_button]
Or You can click “Call Me” below to call Christian Penner directly using Google Voice
– – –
South Flagler Drive, Suite 800, West Tower West Palm Beach, FL 33401
712 U.S. Highway 1 North #300, North Palm Beach, FL 33408
– – –
The Christian Penner Mortgage Team | Cell/Text: (561) 316-6800