Competition is Coming, Are You Thinking of Selling Your Home?
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.
How will this impact buyers?
More inventory means more options. Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:
“This rise in single-family housing construction will help tame home price growth, and the increase in multifamily units should continue to help slow rent growth.”
How will this impact sellers?
More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:
- A great price on their home as buyers outbid each other for it
- A quick sale as buyers have so little to choose from
- Fewer hassles as buyers don’t want to “rock the boat” on the deal
With an increase in competition, the seller may not enjoy these same benefits. As ChiefEconomist Nela Richardson, added:
“Because existing home inventory has been so low for so long, new construction is taking a larger share of the market…Builders meet the buyers and see the demand firsthand.”
Bottom Line
If you are considering selling your house, you’ll want to beat this new competition to market to ensure you get the most attention for your listing and the best price.
If you want to find the best house for the money in East San Diego County…. La Mesa, El Cajon, Rancho San Diego, Jamul, Alpine, Lakeside, Santee, Spring Valley, Lemon Grove.
This is what we can do for you,
We will prepare you a list of houses that fit your criteria and take the time to show all these houses to you, with no pressure and no hassle.
So please let us know when you are ready …
If you want to get started now,
Please call us at 619-461-5800
Or text
Email: associates@rotsart.com
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eastsandiegocountyhomevalue.com - Call or text 619-461-5800 for more information.
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