If you’re sitting on the fence about listing your Hilton Head Island or Bluffton home for sale, here is the #1 reason why you don’t want to wait.
Historical data and the Existing Homes Sales Report show that buyer demand continues to outpace the supply of homes for sale. The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun had this to say this on the inventory shortage:
“With demand holding firm and homes selling even faster than a year ago, the notable increase in closings in recent months took a dent out of what was available for sale.
Realtors are acknowledging, with increasing frequency lately, that buyers continue to be frustrated by the tense competition and lack of affordable homes for sale in their market.”
In the latest Existing Homes Sales Report, the nation’s current month supply of homes for sale is 4.6 months. This remains lower than the industry average of 6-month supply necessary for a normal market.
The infographic below from Keeping Current Matters details the year-over-year inventory shortages experienced over the last 12 months. Anything less than a six-month supply is considered a “Seller’s Market”.