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Strong Buyer Demand Continues to Outpace Inventory of Homes for Sale

Thursday, October 20, 2016   /   by Lynn Goodale

Strong Buyer Demand Continues to Outpace Inventory of Homes for Sale

The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would your rate buyer traffic in your area?”



20161004-Buyer-Traffic-STM.jpg

The darker the blue, the stronger the demand for homes in that area. Only four states came in with a weak or moderate demand level.

Seller Supply

As you can see from the map below, the majority of the country has weak Seller Traffic, meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

20161004-Seller-Traffic-STM.jpg

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together and discuss the demand in our area - call us at 602-799-7099 and Start Packing!



Goodale Realty Team at JK Realty
Austin & Lynn Goodale
1760 E. Pecos Rd #501
Gilbert, AZ 85295
602-799-7099
480-734-8781
Steven Cooper & Mike Barnhart
Mike: 480.551.7646 | Steven: 480.720.4857
1528 E. Williams Field Rd.
Bldg. C #201
Gilbert, AZ 85295

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