Listing Inventory Across The Country Finally Increasing

Dated: 06/09/2018

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Thanks to the historic inventory shortage, it’s been tougher than ever for potential buyers to find a home, especially in the Bellingham area. And if they do find a home that suits their needs, beating out the other buyers vying for the property has been tough as well. With certain price ranges around Whatcom County, finding oneself in a multiple offer situation is now the norm, leaving buyers feeling distressed and defeated.

Up until recently, the hyper-competitive market was starting to discourage potential homebuyers from buying at all. In fact, in March 2018 the number of buyers requesting home tours dropped 1.4% nationally, and the number of buyers writing offers dropped nearly 2% (according to the Redfin Housing Demand Index).

However, according to the Demand Index, in April, newly listed homes for sale were up an impressive 6.6% year-over-year. It looks like the tides are (finally) starting to turn for potential homebuyers. If you've been holding off on your home search because of the lack of inventory, now is a good time to start taking a look again.

The Takeaway

This increase in inventory should make it a bit easier out there for potential homebuyers. So if you’ve been thinking about purchasing a home, now is a great time to make a move.

Related Articles:
4 Tips for Buying a Home in a Hot Market

If You Plan to Hold off On Buying A Home in 2018, You NEED to Read This.

If You Think Waiting Until 2019 To Buy A Home Will Be More Affordable, Think Again

End in Sight for Historic Housing Shortage

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