chart-medSo the market’s recovering, interest rates are low, and you think you’re finally ready to buy a home? Not so fast. Buyers across the country are running into a new roadblock: there don’t seem to be enough homes for sale.

Anyone who has looked at entry- to mid-level homes for sale in San Antonio probably knows what I mean. Mortgage rates remain near historic lows, and as the prices of homes for sale continue to rise, fears that we could soon see a repetition of a real estate equity loss seem increasingly unlikely.

Why the lack of inventory? There are several reasons. Buyers may be ready to buy again, but some sellers are still not in a position to offer their San Antonio homes for sale. When the housing market collapsed seven years ago, some homeowners’ equity loss was such that they remain unable to sell. Prices may be on the rise, but some need more time to return to pre-crash values.

Buyers always want to buy at the bottom, but sellers want to avoid selling there. Buyers are watching that bottom fade into the distance, but some sellers, pleased to watch their homes growing in value, are content to wait longer.

NAR says that there were just 1.93 million existing homes for sale on the national market in March, down nearly 17% from the prior year. In a well-balanced market, what had been a six month’s supply fell to just 4.7 months’ worth.  Nationally, homes for sale now stay on the market for just 62 days, down from a median of 91 days only last year. Glenn Kelman, CEO of an online national real estate brokerage, put it succinctly: “Somebody rang a bell and said the boom is back, and nobody wants to be late to the party.”

Homeowners who have been thinking about selling are increasingly liking what they see in today’s market — including the prospects for trading up. Even those whose previous evaluations were unsatisfactory are finding it worth another look. If you would like to find out what your home is worth today, give one of our REALTORS® a call or fill out this short form below.

[gravityform id=”3″ name=”Custom Home Valuation”]

Comments

  1. says

    Attractive section of content. I just stumbled
    upon your weblog and in accession capital to assert that I get in fact enjoyed account your blog posts.
    Any way I will be subscribing to your augment and even I achievement you access consistently quickly.

  2. says

    Howdy, i read your blog from time to time and i own a similar one and i was just curious if you get
    a lot of spam feedback? If so how do you stop it, any plugin or anything you
    can recommend? I get so much lately it’s driving me insane so any assistance is very much appreciated.

  3. says

    Heya i am for the first time here. I came across this
    board and I in finding It truly helpful & it helped me out much.
    I am hoping to present something again and aid others such as you helped me.

  4. says

    First of all I would like to say fantastic blog! I had a quick question that I’d like to ask if you do not mind. I was interested to know how you center yourself and clear your head before writing. I’ve had difficulty clearing
    my thoughts in getting my thoughts out there.
    I truly do enjoy writing however it just seems like the first 10 to 15 minutes
    tend to be wasted simply just trying to figure out how to begin.
    Any suggestions or hints? Appreciate it!

  5. says

    I think everything said made a great deal of sense.
    But, what about this? what if you added a little content?
    I ain’t saying your content is not solid., but suppose you added something that grabbed a person’s attention?
    I mean Supply of San Antonio Homes for Sale Struggles to Keep Pace – UrbanLUX Realty is a
    little plain. You ought to look at Yahoo’s home page and note how they create post headlines to grab people interested. You might add a video or a pic or two to get people excited about everything’ve written.
    Just my opinion, it could make your posts a little livelier.

    • says

      Thank you for your feedback. I greatly appreciate it. I try to use a catch headline while also include keywords for SEO purposes. Thanks again for reading my posts.

Leave a Reply