How Does The Supply Of Homes For Sale Impact Buyer Demand

Dated: October 1 2019

Views: 55

 

How Does the Supply of Homes for Sale Impact Buyer Demand? | MyKCM

The price of any item is determined by supply, as well as the market’s demand for the item. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”How Does the Supply of Homes for Sale Impact Buyer Demand? | MyKCMThe darker the blue, the stronger the demand for homes is in that area. The survey shows that in 3 of the 50 U.S. states, buyer demand is now very strong; only 2 of the 50 states have a ‘weak’ demand. Overall, buyer demand is slightly lower than this time last year but remains strong.

Seller Supply 

The index also asked: “How would you rate seller traffic in your area?”How Does the Supply of Homes for Sale Impact Buyer Demand? | MyKCMAs the map below shows, 18 states reported ‘weak’ seller traffic, 29 states and Washington, D.C. reported ‘stable’ seller traffic, and 3 states reported ‘strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the buyers who are looking for homes.

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in our market now.


#relocation#boise#boiseidaho#boisehomes#firsttimehomebuyers#homeownership#buildingwealth#blakeonboise#alisonblakegroup#RealEstateDoneRight#Listingspecialist#Firsttimehomebuyerspecialist#Relocationspecialist#NewConstructionspecialist#Investmentspecialist#Alwaysworkingformyclients

Latest Blog Posts

When It Comes To Selling A House Your Time Is Money INFOGRAPHIC

When It Comes To Selling a House, Your Time Is Money [INFOGRAPHIC]Some Highlights Selling a house is no small task. If you decide to try to do it on your own, keep in mind you’ll be

Read More

Americans Find The Nonfinancial Benefits Of Homeownership Most Valuable

Americans Find the Nonfinancial Benefits of Homeownership Most ValuableHomeownership is a foundational part of the American Dream. As we look back on more than a year of sheltering in our,

Read More

4 Big Incentives For Homeowners To Sell Now

4 Big Incentives for Homeowners to Sell NowThe housing market keeps sailing along. The only headwind that could take it off course is the lack of inventory for sale. The National Association of

Read More

Are Interest Rates Expected To Rise Over The Next Year

Are Interest Rates Expected to Rise Over the Next Year?So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there

Read More