Supply of Pearl River Homes for Sale Struggles to Keep
Pace
845 544 4026
So the
market’s recovering, interest rates are low, and you think you’re finally ready
to buy a home? Not so fast. Buyers across the country are running into a new
roadblock: there don’t seem to be enough homes
for sale. Supply of Pearl River Homes for Sale Struggles
to Keep Pace
Anyone who
has looked at entry- to mid-level homes for sale in Pearl River probably knows
what I mean. Mortgage rates remain near historic lows, and as the prices of
homes for sale continue to rise, fears that we could soon see a repetition of a
real estate equity loss seem increasingly unlikely. Supply of Pearl River Homes for Sale
Struggles to Keep Pace
Why the lack
of inventory? There are several reasons. Buyers may be ready to buy again, but
some sellers are still not in a position to offer their Pearl River homes for
sale. When the housing market collapsed seven years ago, some homeowners’
equity loss was such that they remain unable to sell. Prices may be on the
rise, but some need more time to return to pre-crash values. Supply of Pearl
River Homes for Sale Struggles to Keep Pace
Buyers
always want to buy at the bottom, but sellers want to avoid selling there.
Buyers are watching that bottom fade into the distance, but some sellers,
pleased to watch their homes growing in value, are content to wait longer. Supply
of Pearl River Homes for Sale Struggles to Keep Pace
NAR says
that there were just 1.93 million existing homes for sale on the national
market in March, down nearly 17% from the prior year. In a well-balanced
market, what had been a six month’s supply fell to just 4.7 months’ worth. Nationally, homes for sale now stay on the
market for just 62 days, down from a median of 91 days only last year. Glenn
Kelman, CEO of an online national real estate brokerage, put it succinctly:
"Somebody rang a bell and said the boom is back, and nobody wants to be
late to the party." Supply of Pearl River Homes for
Sale Struggles to Keep Pace !!!!
Homeowners who have been thinking about
selling are increasingly liking what they see in today’s market — including the
prospects for trading up. Even those whose previous evaluations were
unsatisfactory are finding it worth another look. If you would like to find out
what your home is worth today, give me a call! Marcella 845 544 4026 or email
me at riggsmarcella@gmail.com
or click here to take a look at what’s on the market in Pearl River at the
moment!
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