Real Estate Inventory of Unsold Homes Growing Steadily Across the Nation
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
Real Estate: Growing Inventory of Unsold Homes Nationwide
Summary:
The inventory of unsold homes across the nation is steadily increasing, even as buyer demand remains strong, according to HouseHunt Inc.'s latest quarterly survey on Current Real Estate Market Conditions.
---
Article:
The inventory of unsold homes, crucial for a balanced housing market in the latter half of 2005, is on the rise in many regions of the country, despite ongoing strong buyer demand. This insight comes from HouseHunt, Inc.'s quarterly survey on Current Market Conditions. Reports from real estate agents highlight that the proportion of plentiful vs. limited supplies rose from 33% in the first quarter to 38% in the following months of April, May, and June.
Notable exceptions to this trend include South Florida, Arizona, Southern California, and certain other regions experiencing significant housing and job growth.
Achieving market equilibrium would involve increasing the current national housing supply from 4.3 months to approximately six months, creating a balanced buyer-seller ratio.
HouseHunt, Inc. is a consumer-oriented internet firm offering free, valuable information to homeowners, buyers, and sellers. The survey's findings are based on data from HouseHunt's Exclusive Agent Referral Network (EARN) members across 47 states.
Key survey findings include:
- Home Price Appreciation: The average national home price appreciation slowed to an annualized rate of eight to 10% in the second quarter. This is a decrease from the double-digit increases seen in the past few years.
- First-Time Buyer Activity: There was a decline in first-time buyer activity from 40% in the first quarter to 35% in the second quarter, despite historically low mortgage interest rates and accessible funding options, including interest-only loans.
- Seller Outcomes: Nine out of ten home sellers are receiving 95% or more of their asking prices, with nearly half achieving 100% or more. Most sellers continue to receive multiple offers.
- Quick Sales: Sixty-five percent of home listings are selling within 30 days or less.
Michael Bearden, president and CEO of HouseHunt, Inc., views the prospect of a slower-paced, more balanced housing market positively. He believes this shift would benefit consumers, especially first-time and entry-level buyers, by reducing fears of a housing bubble and boosting the market across all price ranges.
HouseHunt's primary websites, HouseHunt.com and moveUp.com, provide consumers with free local community information, online property listings, recent neighborhood sales data, electronic property-matching, and insights from top real estate agents nationwide.
You can find the original non-AI version of this article here: Real Estate Inventory of Unsold Homes Growing Steadily Across the Nation.
You can browse and read all the articles for free. If you want to use them and get PLR and MRR rights, you need to buy the pack. Learn more about this pack of over 100 000 MRR and PLR articles.