Low Inventory Causes Home Prices to Maintain Fast GrowthThe National Association of Realtors (NAR) released their latest Quarterly Metro Home Price Report last week. The
Did Your Home Sell Yesterday 44 In Portland Did
There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is... If it hasn't sold yet, maybe it's not priced properly.
After all, 15,014 houses sold yesterday, 15,014 will sell today and 15,014 will sell tomorrow. In our local Portland four county area 87 homes sell on average everyday!
That is the average number of homes that sell each and every day in this country, according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. NAR reported that sales are at an annual rate of 5.48 million. Divide that number by 365 (days in a year) and we can see that, on average, over 15,014 homes sell every day. In the Portland Metro area 44 homes sold yesterday.
The report from NAR also revealed that there is currently only a 3.8-month supply of inventory available for sale, (6-months inventory is considered ‘historically normal’), but in the Portland metro area our supply is at a 1.9 month supply.
This means that there are not enough homes available for sale to satisfy the buyers who are out in the market now in record numbers.
We realize that you want to get the fair market value for your home. However, if it hasn't sold in today's active real estate market, perhaps you should reconsider your current asking price.
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