Selling your home? – 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 building permits issued in June was 850,000, a 0.8% increase from May.
Selling Your Home?
How will this impact buyers?
More inventory means more options. Mark Fleming, First American’s Chief Economist, explained that this is good news for the housing market – especially for those looking to buy:
“The continued year-over-year growth in completions means more homes on the market in the short-term, offering some immediate relief in alleviating housing supply shortages.”
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 has such little inventory to choose from.
- Fewer hassles as buyers don’t want to “rock the boat” on the deal.
If you are considering selling your home, you’ll want to beat this new competition to market to ensure that you get the most attention on your listing and the best price for your house.
You may also like the article titled, ” Lending Standards | Are They Propping Up Home Prices? ”
This article is brought to you by Jeff Daley of the Scottsdale Real Estate Arizona real estate team.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. RJ Daley and Daley, PLLC, does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. RJ Daley and Daley, PLLC will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.