«While buyers are always advised to have a home inspection so they know what they are buying, when there are
a limited number of homes for sale and buyers need to compete for homes, they are more likely to waive their right to ask a seller to make repairs,» says Lerner.
If you're like many home buyers and having difficulty finding a good selection of homes, here are some tips for dealing with
a limited number of homes for sale:
Twenty percent are concerned about
the limited number of homes for sale — also on the rise.
Housing analysts say the big jump in San Francisco prices is due to
the limited number of homes for sale.
The disconnect in the market is likely partially due to
the limited number of homes for sale in many markets, allowing sellers to face less competition and ask for higher home prices.
«People in all four regions signed fewer home contracts compared to one year ago, as would - be buyers struggle to find the right place among
the limited number of homes for sale.»
Most home shoppers can absorb modest increases in mortgage rates, but once rates begin to approach their historic levels, they will eat into housing affordability for buyers and could
limit the number of homes for sale as well.
Not exact matches
CoreLogic's chief economist, Frank Nothaft, said, «Growing
numbers of first - time homebuyers find
limited for -
sale inventory
for lower - priced
homes, leading to both higher rates
of price growth
for starter
homes and further erosion
of affordability.»
This causes the
number of homes for sale at a given point in time to seem especially
limited.
«By giving potential
home buyers and sellers a way to easily connect, I Want That
Home.ca allows frustrated
home hunters to look beyond the
limited number of homes on the market with
For Sale signs that don't meet their specific needs by helping them target and connect to owners
of the
home of their dreams — whether the
homes have a
For Sale sign or not,» says the company in a news release.
«The spring housing market is off to an early and strong start,» says realtor.com Senior Economist Joseph Kirchner, Ph.D. «With existing -
home sales for March at the highest level since the 2008 recession, the
limited number of homes that are on the market are likely to move fast.
Sales of existing
homes fell 1.7 percent from July to August, but NAR mostly blamed the decrease on the
limited number of listings
for sale on the market.
«Constrained inventory will continue to
limit the recovery
of the housing market, and it doesn't seem likely that we're going to see a surge in the
number of homes for sale as the spring
home buying season approaches,» Ten - X Executive Vice President Rick Sharga said about the forecast.
Rising
home prices tops the list
of home buyer concerns this year, a shift from last year when nearly half
of buyers said their chief concern was the
limited number of homes for -
sale, according to a new survey
of more than 3,500 buyers released by the real estate brokerage Redfin.
There are a
number of factors playing into this: The
limited inventory
of homes for sale feeds price gains.
Out
of the nation's 300 largest metros, realtor.com ®'s research team found that the following places saw the lowest
number of days on the market
for its
homes for sale: (Note: realtor.com ®
limited its ranking to one metro per state
for geographic diversity.)
On
home prices: Prices are moving up and most
of that has been attributed to the
limited number of homes for -
sale.
«Constrained inventory will continue to
limit the recovery
of the housing market, and it doesn't seem likely that we're going to see a surge in the
number of homes for sale as the spring
home buying season approaches,» Ten - X Executive Vice President Rick Sharga said.