{"id":2515,"date":"2017-03-23T18:47:58","date_gmt":"2017-03-23T18:47:58","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/2-different-markets-inventory-mismatch-paints-a-very-revealing-housing-picture\/"},"modified":"2017-03-23T18:47:58","modified_gmt":"2017-03-23T18:47:58","slug":"2-different-markets-inventory-mismatch-paints-a-very-revealing-housing-picture","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/2-different-markets-inventory-mismatch-paints-a-very-revealing-housing-picture\/","title":{"rendered":"2 Different Markets: Inventory Mismatch Paints a Very Revealing Housing Picture"},"content":{"rendered":"

\n<\/p>\n

\n

The inventory of existing homes for sale nationally in today\u2019s market was recently reported to be at a 3.6-month supply…<\/h2>\n

According to the NAR –\u00a0National Association of Realtors<\/a><\/em>\u00a0latest\u00a0The\u00a0Existing Home Sales Report<\/em>. Inventory is now 7.1% lower than last year at this time, this is the 20th<\/sup>\u00a0consecutive month of year-over-year drops.<\/p>\n

Historically, inventory must reach a 6-month supply for a normal market where home prices appreciate with inflation \u2014 This is a national statistic and the numbers tend to vary locally in Northern Virginia. Nationally anything less than a 6-month supply is considered to be a sellers\u2019<\/strong> market, resulting in the demand for houses<\/a> outpacing the supply and prices go up at rates above inflation.<\/p>\n

Think of Selling Your House<\/a>? Get our FREE e-guide Click Here<\/em><\/p>\n

As you can see from the chart below, the U.S. has been in a sellers\u2019 market since August 2012, but last month\u2019s numbers reached a new low in supply nationally \u2014\u00a0as well as in many local areas of Northern Virginia.<\/p>\n

\"A<\/p>\n

Recently\u00a0Trulia<\/em>\u00a0revealed that not only is there a shortage of homes on the market in general, but the homes that are available for sale are not matching with the needs of the buyers that are house hunting.<\/p>\n

Homes in general are considered to be in three groups by price for the area: starter, trade-up, and premium.<\/p>\n

Planning to Buy a Home? Get our Free Home Buying Guide<\/a> to start you on your way Click Here<\/em><\/p>\n

Trulia\u2019s<\/em>\u00a0market mismatch score measures the search interest of buyers against the types of homes that are currently available on the market. For example:\u00a0\u201cif 60% of buyers are searching for starter homes but only 40% of listings<\/a> are starter homes, [the] market mismatch score for starter homes would be 20.\u201d<\/em><\/p>\n

The results of their latest analysis are detailed in the chart below.<\/p>\n

\"A<\/p>\n

Nationally, Buyers are searching for starter<\/strong> and trade-up<\/strong> homes and are coming up short with the listings available, leading to a highly competitive seller\u2019s<\/strong> market in these categories. Ninety-two of the top 100 metro areas have a shortage in trade-up<\/strong> inventory.<\/p>\n

Premium<\/strong> home-buyers have the best chance of less competition and a surplus of listings in their price range with an 11-point surplus, leading to more of a buyer\u2019s<\/strong> market. \u00a0The current market shows a clear example of how its possible to have both a Buyer’s and Seller’s market existing at the same time for different categories of homes.<\/p>\n

<\/p>\n

\u201cIt leaves Americans who are in the market for a home increasingly chasing too fewer options in lower price ranges, and sellers of premium homes more likely to be left waiting longer for a buyer.\u201d<\/em><\/p>\n

\n<\/p><\/blockquote>\n

\u00a0<\/em>Lawrence Yun,\u00a0NAR\u2019s Chief Economist<\/em>\u00a0doesn\u2019t see an end to this coming any time soon:\u00a0<\/em><\/p>\n

<\/p>\n

\u201cCompetition is likely to heat up even more heading into the spring for house hunters looking for homes in the lower- and mid-market price range.\u201d<\/em><\/p>\n

\n<\/p><\/blockquote>\n

Bottom Line<\/strong><\/h3>\n

Real estate<\/a> is very local. If you are thinking about buying OR selling this spring, let\u2019s get together to discuss the exact market conditions for your Northern Virginia area home. Reach us directly on our website:\u00a0www.comehomevirginia.com\u00a0<\/a><\/p>\n

:-Dave<\/p>\n

Buying a home get our home buying guide to start you on your way.<\/p>\n

\"Home<\/p>\n<\/div>\n

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The inventory of existing homes for sale nationally in today\u2019s market was recently reported to be … 2 Different Markets: Inventory Mismatch Paints a Very Revealing Housing Picture<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":2516,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[695,4751,518,1403,62,12908,543,127,557,617,489,344,41,818,479,219,61,15309],"class_list":["post-2515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-owner","tag-agent","tag-amazing","tag-america","tag-buy","tag-for-sale","tag-home","tag-home-buying-guide","tag-homes","tag-homes-for-sale","tag-house","tag-houses","tag-housing","tag-property","tag-real","tag-realtor","tag-realty","tag-seller","tag-ups"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/20170315-STM-ENG1.jpg?fit=2000%2C1500&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/2515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=2515"}],"version-history":[{"count":1,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/2515\/revisions"}],"predecessor-version":[{"id":94235,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/2515\/revisions\/94235"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/2516"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=2515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=2515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=2515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}