BEST REAL ESTATE LEADS FOR REHABBING HOMES LEON MCKENZIE
71 % of the 2015 market,“ As of March 31, nearly 71 % of homes on the market were stale, meaning they had languished unsold for more than a month, according to the latest report by real estate brokerage Redfin. New listings shot up 9.2 % last month, but the spring housing bounce is so far nowhere near big enough to satisfy demand. Nationwide, the total number of unsold homes rose 5.3 % in March to 2 million, but at the current pace of sales, that supply would be exhausted in only 4.6 months, according to the National Association of Realtors.”
Normally, the supply of homes on the market in most metropolitan areas would be much longer than just over four months. While it does sound like there is elasticity in the market, only having approximately a four month supply of homes just isn’ t enough. The result of not having enough homes on the market can not only make it hard to find a home, but has resulted in increased prices on the homes that are available. This, too, is not good news for those investors who want to purchase homes as increased prices can lead to decreased profits.