Welcome to the AllIdahoFallsRealEstate.com Blog

2019-10-29 19:38:48
Thinking of Selling Your Idaho Falls Home? The Waiting Is The Hardest Part.

 

Thinking of Selling Your Home? The Waiting Is The Hardest Part. | MyKCM

Tom Petty famously penned the words, “the waiting is the hardest part” in his early 80’s hit song The Waiting, and his thought process can surprisingly also be applied to individuals considering selling their homes today. Traditional thinking would suggest it may be best to wait until the spring to sell when there is a flood of buyers in the market, but right now may in fact be an even better time to list your home.

We can see the overall economy is good: wages are rising, there are near record-low unemployment rates, and mortgage interest rates are still very low too. Over the past 10+ years the housing market has stabilized, so what (if anything) is the biggest challenge in the housing market today?

The answer is simple: it’s inventory.

According to the Existing Home Sales Report by the National Association of Realtors,

“Total housing inventory at the end of September sat at 1.83 million, approximately equal to the amount of existing-homes available for sale in August, but a 2.7% decrease from 1.88 million one year ago. Unsold inventory is at a 4.1-month supply at the current sales pace, up from 4.0 months in August and down from the 4.4-month figure recorded in September 2018.”

What does this mean?

While homes are coming to the market, they aren’t coming fast enough! Right now, across the country there is less than 6 months of overall inventory of homes for sale, putting us in a seller’s market. The challenge is that there are not enough homes for sale to increase the supply needed for the number of people who want to buy, especially in the starter and middle-level markets.

To be in a balanced market (meaning we have enough inventory for the number of buyers in the market), we need to have 6 months of inventory available. Today we are nowhere near that number, and as a matter of fact, the last time we reached that height was August 2012 (as shown in the graph below):Thinking of Selling Your Home? The Waiting Is The Hardest Part. | MyKCMWhen we look at the inventory challenge today, we can see that now is a great time to sell your house. Truthfully, waiting may end up being the hardest part in the long run. This landscape is a great place for sellers who own homes in the starter and middle-level markets to take the opportunity to sell in a sellers’ market, before inventory catches up with demand. Serious buyers are actively in the market and ready to make a move at this time of year. When inventory is limited at the lower end, like it is today, selling before more homes are listed could mean a significant seller’s advantage to those who are ready to move up. The upper level of the market has much more inventory available to move into, so it’s a win across the board.

Bottom  Line

If you’re considering selling your Idaho Falls home, don’t wait – now is the time to make your move! Call the Cindy Bates Group today and lets get you taking advantage of the high housing demand and the low inventory of homes for sale. We want you to use your purchasing power while mortgage rates are low to go after the move-up home of your dreams. Let’s get together to decide if now is the right time for you.

 
Blog Archive
2020-02-24 12:09:09
New Homes on the Market And Southeast Idaho Events!

2020-02-20 12:22:26
Active Listings in Southeast Idaho

2020-02-13 12:50:00
Global Events affecting Idaho Falls Market

2020-02-11 15:22:53
Homeownership Rate on the Rise to a 6-Year High

2020-02-10 11:16:11
Take a look at The #1 Move In State!!

2020-02-04 10:04:37
Do you think Gender plays a role when investing in Idaho Falls?

2020-01-28 09:43:15
Should You Sell Your Idaho Falls House This Year?

2020-01-27 15:17:10
First-Time Idaho Falls Buyers Are Searching for Existing Homes This Year

2020-01-22 09:34:58
Idaho Falls Buyers Can Win By Downsizing in 2020

2020-01-21 10:56:25
The 2 Surprising Things Idaho Falls Homebuyers Really Want

2020-01-16 09:58:32
Housing Inventory Vanishing: What Is the Impact on You in Idaho Falls?

2020-01-15 15:02:31
Idaho Falls home buyers increasing their Wealth!

2020-01-14 10:36:23
2020 Luxury Market in Idaho Falls

2020-01-10 11:19:19
Your Hometown Lowdown: True Love Skincare with Tricia Barnes

2020-01-09 11:37:27
There’s a Long Line of Buyers Waiting for Your Idaho Falls House

2020-01-08 12:45:47
Is The New Spring Real Estate Market Here in Idaho Falls?

2020-01-07 22:20:44
Big Demand for Small Homes Coming to Idaho Falls?

2019-12-30 16:20:16
For Sale By Owner? Give us a Call first!

2019-12-18 15:27:01
The Biggest Issue Facing Housing Next Year in Idaho Falls

2019-12-10 09:53:05
What difference Does a Year Make in Idaho Falls?

2019-12-09 20:37:52
Have You Budgeted for Idaho Falls Closing Costs?

2019-12-04 10:45:51
Is A Bigger Idaho Falls House Within Your Budget?

2019-12-03 14:58:29
Winter Sales in Idaho Falls

2019-11-27 14:19:24
Tips to Sell Your Home Faster in Idaho Falls

2019-11-26 10:04:11
Owning Your Own Idaho Falls Home

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.