Luxury Valley Homes Arizona Real Estate Blog: Supply of Homes: Buyer Demand Outpacing Homes For Sale

Supply of Homes: Buyer Demand Outpacing Homes For Sale

The price of any item is determined by the supply of that item, as well as the market demand. 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.

 

Supply of Homes

 

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?”

 

Supply of Homes

 

The darker the blue, the stronger the demand for homes in that area. Only six states had a weak 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, the majority of the country has weak Seller Traffic, meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

 

Supply of 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 the buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in the market now!

 

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Jeff and Jane Daley started their careers in real estate after taking early retirement from the corporate world in October of 1999. Their success is achieved by way of their core values and fiduciary responsibility to their clients.

 

MILITARY SERVICE: Jeff is a Vietnam combat veteran, served in in the US Army infantry with distinction, and received multiple citations.

Comment balloon 2 commentsJane & Jeff Daley, PhD • February 04 2017 07:38PM

Comments

Thank you for sharing such professional real estate advice for home sellers.  This is exactly the type of information they need to make informed decisions.

Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (RE/MAX Paramount Properties) 20 days ago

Jane and Jeff Daley hello.

Thank you for this article, demand is bigger than the supply and it is very visible on these maps.

Posted by Shahar Hillel, Mortgage Consultant, Loan Officer. (Alterra Home Loans) 19 days ago

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