Why does the market sway between a buyer’s market and a seller’s market? The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS® (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).
When the real estate practitioners were asked, “How would you rate buyer traffic in your area?” The below graph shows their response:As you can see, Wisconsin has a strong buyer demand in the moderate blue as is most of the country.
Looking at the seller side, the real estate practitioners were asked, “How would you rate the seller traffic in your area?” To which the below graph again summarizes their response:You can see that not only Wisconsin but the majority of the country has weak seller traffic, meaning there are far fewer homes on the market than needed to meet buyer demand.
Many, many buyers are out there looking for their dream homes. If you have thought about selling your home, contact your Shorewest, REALTOR® today! #ShorewestRealtors #SellingYourHome #BuyersDemand
Source Credit: Keeping Current Matters
Tags: Buyers, Buyers Demand, first time home buyer, First Time Home Seller, Keeping Current Matter, National Association of Realtors, Sellers, Selling My Home, shorewest family, Shorewest Realtors, Wisconsin