Are You Thinking of Selling Your Home?


Competition is Coming, Are You Thinking of Selling Your Home?

Competition is Coming, Are You Thinking of Selling Your Home? | MyKCM

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.

How will this impact buyers?

More inventory means more options. Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:

“This rise in single-family housing construction will help tame home price growth, and the increase in multifamily units should continue to help slow rent growth.”

How will this impact sellers?

More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:

  1. A great price on their home as buyers outbid each other for it
  2. A quick sale as buyers have so little to choose from
  3. Fewer hassles as buyers don’t want to “rock the boat”on the deal

With an increase in competition, the seller may not enjoy these same benefits. As Chief Economist Nela Richardson, added:

“Because existing home inventory has been so low for so long, new construction is taking a larger share of the market…Builders meet the buyers and see the demand firsthand.”

Bottom Line

If you are considering selling your house, you’ll want to beat this new competition to market to ensure you get the most attention for your listing and the best price.

Are you thinking of selling your home?

Rosemarie Rivicci

NYS Associate Broker

Barbara Corregano RE

917-846-5795

 

Advertisements

Published by

RealtorRose

I am a NYS Licensed Associate Broker affiliated with Barbara Corregano Real Estate. As a full service realtor I will be with you every step of the way from our first meeting to the last, the final closing of your property! The wishes and desires of my clients are a priority to me. With 92% of buyers and sellers starting their search on the Internet, my marketing strategy is heavily focused on just that! As a native Staten Islander I know all the nooks and crannies of the Island and pass that knowledge on to everyone I am working with. A professional with expert negotiating skills and a keen knowledge of the real estate market is someone you want on your side of the real estate transaction. I pride myself in going above and beyond and giving you the customer service you deserve. Feel free to see what your Staten Island home is worth, search for homes in Staten Island or contact me for questions or assistance at 917-846-5795

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s