In today’s Memphis TN housing market, there are far more buyers looking for homes than sellers. Supply greater than demand means home prices will naturally rise. Why? When there are more people trying to buy an item than there are items available for sale, that drives prices up. And that’s exactly the case in today’s local Memphis TN housing market. So, knowing what’s happening is crucial for today’s buyers and sellers in Memphis TN, Collierville Tn Bartlett TN and all local areas. Contact us to discuss the housing market 901 799 0299 www.mbrealtymemphis.com
Demand Is High and Supply Is Very Low across the Nation
The latest buyer and seller activity data from the National Association of Realtors (NAR) indicates buyer traffic heavily outweighs seller traffic today, as shown in the maps below. This is also true fr home buyers in Memphis TN. Darker blues (strong buyer activity) on the left and lighter blues (weak seller activity) on the right. In other words, this shows how the demand for homes is significantly greater than available homes to purchase.
What Does This Mean if You’re a Seller?
Supply is struggling to keep pace with demand. In fact, the inventory of homes for sale recently hit an all-time low. That gives you an incredible advantage when you sell your house. With so few listings, it’s likely more potential buyers will view your house – especially if you work with an agent to price it right. That means there’s a high chance you’ll receive multiple offers or buyers will enter a bidding war for your house. And that dynamic can drive the sale price of your home up. You will want an agent to help with the selling process www.mbrealtymemphis.com
What Does This Mean if You’re a Buyer?
As a home buyer in Memphis TN there are fewer options available. So, you’re likely to see more competition for home. You need to be strategic to win. First, make sure you have a trusted professional on your side. Your real estate agent www.mbrealtymemphis.com will help you understand your local market and work with you to act quickly when the time is right. Even when it’s challenging to find a home, you can still succeed as a buyer today. If you have a trusted advisor on your side every step of the way.
Bottom Line
Supply Demand Impacts Home Buyers and Sellers in Memphis TN. Whether you’re a homebuyer, seller, or both, knowledge truly is power. Let’s Talk! so you can better understand what’s happening in our local Memphis TN market and achieve your homebuying and home selling goals this year. Our local Shelby County TN housing market is affected
