The Austin-area housing market’s declining inventory and sales trends are creating an increasingly competitive housing market across all prices. Homes are selling faster than we can list.
Thinking Of Selling Competition Is Coming
What is the best indicator of how many new homes will be built over the next few months? The number of building permits issued for single-family homes! According to the U.S. Census Bureau and U.S. Department of Housing & Urban Development, this number rose 7.4% from last year.
How does this impact you as a Seller? More inventory means more competition. Over the past year, we have seen a tremendous lack of inventory and that has led to the following expectations from sellers:
1) a great price on their home as buyers compete to outbid each other
2) a quick sale because of the lack of inventory
3) fewer hassles because buyers are cautious not to jeopardize the deal
What about Buyers? More inventory means more options which is good news for the housing market. By increasing the number of single-family houses being built, it will help tame the continued price increases and slow rent growth.
If you have been considering selling, you will want to beat this new competition to the market to ensure you get the most attention and the best price for your home!
Give me a call at 512-865-0797 to find out what your home is worth!
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As I visit with people and/or overhear conversations, there seems to always be the question of when will this market turn? Not only when it will turn but will it be a repeat of the bubble we saw in