Buying Remains Cheaper Than Renting in Portland MetroBuying Remains Cheaper Than Renting in Portland MetroAugust 18th, 2018The latest Rent vs. Buy Report from Trulia shows that homeownership is
If You Are Thinking About Selling Now May Be The Time To Act
If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.
Jonathan Smoke, Chief Economist at realtor.com, revealed in a recent article that:
“The biggest challenge to buyers this spring will be simply finding a home to buy and getting it successfully under contract. That’s because the supply of homes for sale is at an all-time low, and yet demand is strong and getting stronger.”
Smoke goes on to say:
“We started the year with the lowest inventory of homes available for sale that we’ve ever seen on realtor.com. While we did see inventory grow 2% in February, total inventory was down 11% over last year.”
In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction including the inspection, appraisal and financing contingencies. Just look at the data for Beaverton as an example. 549 homes for sale right now. Believe it or not that's nothing.
As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.
Latest Blog Posts
Coming Soon Listing in Hillsboro - MLS # 183986562 Masters, both with beautiful bathroom suites. Set-up for multi-generational. New flooring throughout, new paint. This is a gorgeous move-in
June Residential Highlights The Portland metro area saw some cooler activity this June, but closed sales saw a gain over last month. At 2,946, closed sales slipped 7.6% below the 3,187 closings