Mt. Charleston Realty, Inc. Blog

The Biggest Perk for Sellers in the Housing Market: Low Inventory

August 21st, 2020 2:17 PM by Tomashowski Team

Today, there are simply not enough houses on the market for the number of buyers looking to purchase them. According to the National Association of Realtors (NAR): “Total housing inventory at the end of June totaled 1.57 million units, up 1.3% from May, but still down 18.2% from one year ago (1.92 million).” The red bars in the graph indicate that the inventory of homes coming into the market continues to decline. It was low as we entered the pandemic and has reduced even further this year. Houses today are selling faster than they’re being listed, and that’s creating an even greater supply shortage. The lack of inventory has been a challenging situation for a while now, and with low mortgage rates fueling buyer demand, inventory is even harder for buyers to find today. Buyers are eager to purchase, and because of the shortage of homes available, they’re encountering more bidding wars. With low inventory and high buyer demand, homeowners can potentially earn an increasing profit on their houses and sell them quickly in this sizzling summer market.
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Whether you’re thinking about buying or selling at home, there are some key perks available right now. Let’s connect today to discuss how they may play to your advantage in our local market.   702-872-5733
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Visit our website www.mtcharlestonrealty.com
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Mt. Charleston Realty, Inc. License Numbers: B.0003611, S.0035726, S.0077558, S.0184807, S.0188642
Source: Keeping Current Matters
Posted by Tomashowski Team on August 21st, 2020 2:17 PM

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MT. CHARLESTON REALTY, INC.

6628 Sky Pointe Drive, Suite #130
Las Vegas, NV 89131