The real estate market is moving more and more into a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the summer, supply is not keeping up.
Here are the thoughts of a few industry experts on the subject:
Lawrence Yun, Chief Economist at NAR:
Tom O’Grady, Pro Teck CEO
Ralph McLaughlin, Chief Economist at Trulia
If you are thinking of selling, now may be the time. Demand for your house will be strongest at a time when there is very little competition. That could lead to a quick sale for a really good price.