The low inventory for homes for sale now is becoming a joke and a bad one.
Inventory of homes for sale fell in January 2015, decreasing 6.7 percent month-over-month and 8.7 percent year-over-year, according to a January 2015 National Housing Trend report released by realtor.com®, which tracks price and inventory fluctuations in 200 markets. 80 percent of those markets tracked saw a drop in inventory levels. January’s data suggest a continuation of low inventory levels and that means home prices will continue to increase.
In a supply and demand world, tight inventory means buyers this spring will face increased competition and more bidding wars. I guess somebody better phone in a wake-up call to home sellers: It’s SPring! Not only is Spring renowned for being the best time to sell your home, but this spring is looking to be a great one for sellers.
