The current housing landscape presents greater home values, low interest rates, and high buyer demand. All of these factors point to the strong market forecast to continue throughout the rest of the year.
There is, however, one thing that may cause the industry to tap the brakes: an overall lack of housing inventory. Buyer demand naturally increases during the summer months, but the current supply is not keeping up.
Here is a look at what a few industry experts
have to say:
“Imbalance persists for mid-to-lower priced homes with solid demand and insufficient supply, which is consequently pushing up home prices.”
“Market conditions are ripe for increasing home sales with one glaring exception. The supply of homes for sale remains tight, keeping existing home sales below potential.”
“We're not seeing as many new listings come up on the market…It was only 18 months ago that the number of homes for sale hit its lowest level in recorded history and sparked the fiercest competition among buyers we've ever seen.”
If you’re thinking of selling, now may be the time. Demand for your condo or home will be strong during a period when there is very little competition, ideally leading to a quick sale and a great return on your investment.
Low inventory across Perdido Key/ Orange Beach/ Gulf Shores has been at historic levels going on 2 years. There does not seem to be any change in the near future. Ideal time to sell!
Sellers! Click the link below for additional information on the current market and guides to selling your home!