With houses selling faster than ever and inventory still low, buyers are having a hard time finding homes.
46% of homes that were listed during August found a buyer within 2 weeks of being put on the market, which is up 14% from the previous year.
Homes are selling very close to their list price at a 99% sale-to-list price ratio, so if you’re planning to buy, you also need to be planning to pay.
With demand high, inventory low, and rates remaining at record-lows, the housing market isn’t showing any signs of slowing down anytime soon.
“With the Federal Reserve planning even more actions aimed at stimulating the economy, interest rates are likely to remain low for years, continuing to prop up demand from homebuyers for the foreseeable future, but the long term health of the overall economy is the wildcard.”