Tagged : low inventory

Found 6 blog entries tagged as "low inventory".

homebuyer_275The spring season tends to flood the housing market with buyers, and in markets with low inventory levels, the competition is stiff.

As home prices continue to recover and interest rates remain at near-record lows, some houses are receiving multiple offers and to win the bid, buyers need to stand out from the crowd. According to the National Association of Realtors, houses sold in 71 days in January, down from 99 days a year ago.

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With the worst of the housing bust still fresh in homeowners’ minds, it’s a small wonder what some owners are saying they most regret: not buying bigger. It’s just one finding from a new survey by real-estate website Trulia. The survey, which is scheduled to be released  in full on Wednesday, also highlights the changing tide for home sellers, who now have the upper hand in markets amid rising prices and low inventory. 

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realtor.com - You’re ready to dive into the real estate market; you’ve seen the stories about low inventory; and you know you need to move quickly. Open houses can be a great place to get a head start, by literally getting your foot in the door first!

Being prepared is the key to turning an open house visit into a home purchase.  

Here are four steps to ensure that you find a home you love and find it first.

Time your search to find the most open houses.  Explore the area you are interested in and plan your itinerary.  Take notes and rate homes while they are still fresh in your mind.  Save the listings you like and set up alerts to go right to your device.

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realtytimes.com - Low inventory levels are bringing a faster turnaround for today's sellers. From 1987 through 2011, analysis of the NAR Profile of Home Buyers and Sellers series showed the typical time on market was 6.9 weeks, while the existing-home sales series showed an average supply of 7.0 months, just above the high end for a balanced market.

Today's median time for a home to remain on the market is 69 days (July 2012). This is down nearly 30 percent from the 98 days seen in July 2011. The NAR reports that during periods which see close to a 6-month supply, such a now, homes have a median selling time of 6 weeks.

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dsnews.com - As homeowners hold back from selling, home prices are benefiting, according to a report from Redfin, which tracked home prices in 19 U.S. markets.

While prices remained flat month-over-month (-0.1 percent) from June to July, Redfin found prices rose 3.2 percent from July 2011 to July 2012.

However, the number of homes for sale fell 28.1 percent during the same one-year period and also declined 5 percent from June.

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dsnews.com - Home price purchases were mixed month-over-month in May, with non-distressed prices up and short sales down, according to the Campbell/Inside Mortgage Finance HousingPulse tracking survey.

From April to May, transactions reported by HousingPulse survey respondents revealed the average price for non-distressed properties rose 1.7 percent, while the average price for short sales fell 0.7 percent. For damaged REOs, the average price went up 1.8 percent and for move-in ready REOs, the average price dropped 1.5 percent.

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