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

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

The price of any item is determined by the supply of that item, as well as the market’s demand for it. 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?”

The darker the blue, the stronger the demand for homes is in that area. The survey showed that in 38 out of 50 states buyer demand was slightly lower than this time last year but remains strong. Only six states had a ‘stable’ demand level.

Seller Supply 

The index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, 23 states reported ‘weak’ seller traffic, 22 states and Washington D.C. reported ‘stable’ seller traffic, and 5 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 out 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 so I can help you capitalize on the demand in the market now!

Stay current with your local Housing Market New by signing up for our Housing Market Update Monthly Report.

 

  • About the Author
  • Latest Posts

About Green Team

  • How to Get a Better Perspective on Affordability - February 10, 2019
  • Why It Makes No Sense to Wait for Spring to Sell - January 30, 2019
  • How Does the Supply of Homes for Sale Impact Buyer Demand? - January 30, 2019
  • The Best Time to List Your House? TODAY! - January 14, 2019
  • How Much Has Your Home Increased in Value? - September 24, 2018
  • Home Prices Have Appreciated 6.9% in 2018 - September 18, 2018
  • Are Homebuyers Starting to Hit the ‘Pause’ Button? - September 16, 2018
  • Charles Nagy and Theodore Van Laar win Second Quarter Sales Leader Award - August 6, 2018
  • WHY HAVING A MENTOR CAN MAKE ALL THE DIFFERENCE - July 15, 2018
  • Next Recession in 2020? What Will Be the Impact? - July 9, 2018

Posted in:

  • Housing Market News

Post Tags:

  • buying a home,
  • Selling a home

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