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 7.7% over last year.
How will this impact buyers?
More inventory means more options. Danielle Hale, Realtor.com’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:
“It’s not spectacular construction growth, but it’s slow and steady in the right direction. Eventually, the pickup in single-family home construction will mean [buyers] will have more options. Especially with the limited number of sales right now, more options are really needed.”
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 Hale said:
“As new construction continues to increase, home shoppers will eventually have more [choices] and a bit more time to make purchase decisions compared to today’s quick-moving housing market.” Buyhome
If you are considering the sale of your home, it might make sense to beat this new construction competition to the market.
The Importance of Using a Professional to Sell Your Home
When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold. In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the Buyhome process. According to the National Association of Realtors’ 2016 Profile of Home Buyers & Sellers, the percentage of buyers who used the internet in their home search increased to 94%. Buyhome
Need to sell your home? It’s all about the marketing ! Selling your home right!
It’s all about the marketing ! Selling your home right! Buyhome
There’s no secret to getting a home sold quickly – the more people that view it, the better your chances of a quick sale. Unfortunately, too many real estate agents take a “list and pray” attitude toward their home-selling clients – trying to get away with sticking a sign into the dirt, a lockbox on the door and two or three photos on the MLS listing. Need to sell your home? It’s all about the marketing ! Buyhome in Naperville, Bolingbrook, Plainfield, Oswego, Downers Grove, Lisle, Yorkville, Woodridge, Aurora
Sure, that might work in a hot sellers’ market, but it may also fail. Are you willing to take that chance? Since you will pay the same amount for the list-and-pray agent as you will for the guerilla marketer, shouldn’t you do your best to find the latter and eschew the former? Buyhome