Where Did All the Homes For Sale Go? - Top Agent Network

Media_httpwwwtopagent_hwhop

Thank you David Faudman for posting this. It is so very very true. I am begging my sellers to list their properties NOW and not wait. The following is more of what David wrote in his blog for those of us that are top agents.

Source: Redfin (TAN current and coming-soon chapters in pink)

Some Top Agent Network members tell us they have never seen so many anxious and disappointed buyers looking for houses. One agent mentioned a listing that received 20 offers with 19 of those offers being ALL CASH!

So why is inventory so low and why aren’t more owners selling in this hot market? The top agents we spoke with cite these reasons:

All cash investors are scooping up lots of properties.
Owners are reluctant to formally list their property for fear they won’t find a suitable replacement home.
Some owners are still waiting for prices to return to 2006-2008 levels before they will put their home on the MLS for sale.
All the agents we spoke with said they have listings in the queue for release this spring. That should improve the demand-supply imbalance and temper the market a bit. If I were an active real estate agent I would advise my sellers to jump on this hot seller’s market before it cools. They can even be a little greedy on price.

Meta
Share