Inventory Is Tight in This Price Bracket

Just as more first-time home buyers are entering into home ownership, lower-priced homes are increasingly hard to come by in many housing markets. The number of inventory homes for-sale below $100,000 plunged 8.6 percent in January compared to a year earlier.

On the other hand, luxury home buyers are finding more to select from: homes above $1 million increased 15 % year-over-year, according to housing data from the National Association of REALTORS®.“The lower the purchase price, the smaller the growth in the number of homes available on the market,” The Wall Street Journal reports. “Lower-priced homes [are] selling quickly at the same time inventory of expensive ones piles up.”

High-end buyers, on the other hand, are more sensitive to stock-market changes and some may be delaying purchases recently – which could explain why inventory is rising in the higher brackets, analysts note.

In certain price points, it is certainly tough for buyers right now. There’s limited inventory and lots of demand here in the Tampa Bay and surrounding areas.

Overall, the housing market nationwide has about a four-month supply of existing homes for sale, according to NAR. Most economists consider 6 months to be a more balanced, healthy housing market. Now here is the alarming part for us in the Tampa Bay and surrounding areas. We have 2. 8 months of inventory for sale right now. 

So what we would suggest to do is call us at 813-300-7116 or simply click here so we can get you set up in our local MLS and be directly connected so when a home does come on the market with all the requirements you are looking for you will be notified immediately and have the best chance to see the home immediately and make your decision before someone else does it before you.