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Julie Larson REALTOR®  941-284-9826

Mary Lou Hetman REALTOR®  941-320-1575

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Housing Inventory Hits 30-Year Low

Housing Inventory Hits 30-Year Low

Housing Inventory Hits 30-Year Low

Spring is traditionally the busiest season for real estate. Buyers, experiencing cabin fever all winter, emerge like flowers through the snow in search of their dream home. Homeowners, in preparation for the increased demand, are enticed to list their house for sale and move on to the home that will better fit their needs.

New data from CoreLogic shows that even though buyers came out in force, as predicted, homeowners did not make the jump to list their home in the second quarter of this year. Frank Nothaft, Chief Economist for CoreLogic had this to say,

“The growth in sales is slowing down, and this is not due to lack of affordability, but rather a lack of inventory. As of Q2 2017, the unsold inventory as a share of all households is 1.9 percent, which is the lowest Q2 reading in over 30 years.”

CoreLogic’s President & CEO, Frank Martell added,

“Home prices are marching ever higher, up almost 50 percent since the trough in March 2011.

While low mortgage rates are keeping the market affordable from a monthly payment perspective, affordability will likely become a much bigger challenge in the years ahead until the industry resolves the housing supply challenge.”

Overall inventory across the United States is down for the 25th consecutive month according to the latest report from the National Association of Realtors and now stands at a 4.3-month supply.

Real estate is local.

Market conditions in the starter and trade-up home markets are in line with the median US figures, but conditions in the luxury and premium markets are following an opposite path. Premium homes are staying on the market longer with ample inventory to suggest a buyer’s market.

Bottom Line

Buyers are out in force, and there has never been a better time to move-up to a premium or luxury home. If you are considering selling your starter or trade-up home and moving up this year, let’s get together to discuss the exact conditions in our area. Call Julie Larson TODAY at 941-882-0322 to get more information regarding the value of your home or complete the form below!

 

~ Keeping Current Matters
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Posted in: Bradenton Real Estate, Casey Key Real Estate, Charlotte County Real Estate, Englewood Real Estate, Lakewood Ranch Real Estate, Lido Key Real Estate, Manatee County Real Estate, Manatee County Real Estate Resources, Nokomis Real Estate, North Port Real Estate, Osprey Real Estate, Palmetto Real Estate, Parrish Real Estate, Real Estate, Sarasota County Real Estate, Sarasota Real Estate, Seller Resources, Siesta Key Real Estate, Venice Real Estate Tagged: Julie Larson Realtor, listing agent sarasota

About Julie Larson, Realtor with White Sands Property Group FL

Julie loves the Sarasota's Suncoast area and gets a lot of joy out of matching up home buyers with home sellers and creating a win-win situation for all involved.

ThinkSuncoast.com is your one-stop real estate resource for Sarasota and the surrounding areas.

Your questions and comments are always welcome! Call or text 941-284-9826, email Julie@ThinkSuncoast.com or by using the form on our Contact page!

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Contact Julie Larson

 
 
 
 
 
 
 

Julie Larson, Realtor®
941-284-9826
Julie@ThinkSuncoast.com

Julie Anne Larson LLC

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White Sands Realty Group Florida
1990 Main Street Suite 750
Sarasota, Florida 34236
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