Why Are There Much Fewer Homes on the Market Now
Barb Schlinker Radio Show
719-301-1802 | 719-301-3900
Your Home Sold Guaranteed Realty Colorado
Buyers seem to have much fewer homes to choose from, why are there much fewer homes on the market?
Here are some factors:
- Rising Home Prices
- Record Low-Interest Rates, yet
- Inventory of Available homes
- A RECORD LOW,
- 665 homes on the market
Compare that to 1 year ago there were over 2050 homes to choose from in the Pikes Peak Region, that’s a 35% DECREASE in inventory, builders cannot build fast enough supply of Homes vs Sales
Many home buyers are having to increase the price range they are shopping in. They CAN because interest rates are at RECORD LOW numbers..
- VA 2.25% wow!
- Conventional: 2.5% OMG
- 5% down
- Total payment = $1873 Conv, $1821 VA
For our beloved military folks, that payment is less than BAH in most cases and they can buy ZERO down. EX Let’s take an average sales price now: 31% worried about their Finances sellers Think Waiting = More $$$ what they may be buying on the other end will also be more expensive. Zillow did a recent survey of would-be home sellers and they asked and the answers were surprising 63% of the people Selling a home will be buying Another Home. Only 25% of those surveyed said they were concerned about Corona Virus exposure.
Our Covid Protections; No Touch Showing Kits, mandating the buyers and agents wear masks and gloves during showings. Limit how many come in, Open houses are currently allowed but we have to limit entry to 10 at a time 6% of those surveyed said they were in Forbearance. CAUTION: If you plan to buy another home on the other end. Forbearance = CODED CREDIT REPORT
DANGER: Result: WAIT 1 Year from Last Payment Missed MORTGAGE FORBEARANCE…
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