ALBANY, N.Y. — New York realtors sold more than 11,000 previously - owned homes during December, down over 5 percent from more than 11,600 homes sold in December 2016, as the supply
of homes available for sale fell.
Thanks lower median home prices of $ 218,350, and a smaller
amount of home available for sale, we will continue to see a strong housing economy, particularly in and around Atlanta.
In all of the largest U.S. housing markets, more than a
third of the homes available for sale are in the most expensive segment — in the top third of the overall housing stock in the market.
House prices still rose across Canada, but at a measured pace, and the number
of homes available for sale rose to the more comfortable levels indicative of a healthy, balanced market,» says Phil Soper, president and chief executive, Royal LePage Real Estate Services.
«While these changes are pointed at the demand for ownership housing, it is important to note that much of the upward pressure on home prices in the GTA has been based on the declining
inventory of homes available for sale.»
Since there is a surplus of home buyers, with a reduction in the supply
of homes available for sale, it follows that homes in the Georgina real estate market are selling faster and for more money.
Citing a recent survey of his members that suggested international buyers accounted for only 5 per cent of demand, Cerqua added that, «the solution to strong rates of price growth and related affordability concerns lies not with taxing foreign buyers more, but rather with addressing the supply
of homes available for sale, or lack thereof.»
The supply
of homes available for sale is now at 5.9 months, the first time in a number of years the number has dropped below 6 months.
«Low inventory
of homes available for sale and a growing economy has led to steadily rising home values as indicated by the strong annual increase of the HVI index,» Banfield says.
NAR Chief Economist Lawrence Yun talks about the growth in existing - home sales and decline in the number
of homes available for sale.
Starting in May, we will experience dispersed buyer energy as buyers gain access to a greater number
of homes available for sale each month.
NAR Managing Director of Housing Research Danielle Hale talks about the April fall in existing - home sales and shortage
of homes available for sale.
«Although it will certainly take more time for the full effects of elevated interest rates to be felt, there is no evidence of a normalization in the unusually low inventories
of homes available for sale, which has been the primary force behind the extraordinary price gains.»
This represents a 3.5 months» supply
of homes available for sale.
Unlike other hot housing markets, Detroit has a pretty good supply
of homes available for sale.
The number
of homes available for sale is still at historic lows creating a great opportunity for sellers to obtain the most money for their properties.
The low inventory
of homes available for sale is stymieing sales.
The record number of transactions in May, combined with a shortage in the number
of homes available for sale, resulted in large price increases in all areas of the market.
Continued declines in the number
of homes available for sale may push out potential buyers who simply can not compete for homes selling at higher price points in a low number of days, especially if mortgage rates continue to increase.
Record May transactions, coupled with a dip in the number
of homes available for sale, resulted in strong price growth.
While these changes are pointed at the demand for ownership housing, it is important to note that much of the upward pressure on home prices in the GTA has been based on the declining inventory
of homes available for sale,» said Jason Mercer, TREB's Director of Market Analysis..
Even as real estate professionals across the country grapple with a persistent shortage
of homes available for sale, some agents are facing a different kind of challenge: convincing buyers to consider existing properties when builders are briskly turning out new homes a short distance away.
«Additionally, above - average growth in residential construction jobs (4.9 percent) is a positive sign for new - home construction in the months ahead, which should help add to the number
of homes available for sale and help tame home price increases,» Hale says.
Last year, the number
of homes available for sale in January was 1,680,000.