DAILY LISTING UPDATES on LakeArrowheadLiving.com
ARROWHEAD WOODS sales in the first six month of the last three years have risen from 193 homes sold in 2016, 210 homes sold in 2017, and 214 homes sold in the first six months of 2018. Inventory however has risen from just over 200 homes for sale in 2016 to 278 homes for sale on this date in 2018, counter to the national trends.
National Demand for Homes to Buy Continues to Climb: Arrowhead slower buy steady.
Across the United States, there is a severe mismatch between the low number of houses for sale and the high demand for those houses! First-time homebuyers are out in force and are being met with a highly competitive summer real estate market.
(This is an up to the minute report)
According to the National Association of Realtors (NAR), the inventory of homes for sale “has fallen year-over-year for 36 consecutive months,” and now stands at a 4.1-month supply. A 6-month supply of inventory is necessary for a balanced market and has not been seen since August of 2012.
NAR’s Chief Economist Lawrence Yun had this to say,
“Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand.That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.”
Do homeowners realize demand is so high?
With home prices rising across the country, homeowners gained over a trillion dollars in equity over the last 12 months, with the average homeowner gaining over $16,000!
The map below shows the breakdown by state:
Bob’s Findings of Interesting information
KW Market Insights” July 2018 ways to pre6 6 pare yourself for selling luxury real estate … Inman/WFG6
Bob can report to you the value of your home to make decisions affecting your future
Call Bob for your home price in 24 hours 909.496.8200
Be aware of what’s happening daily in our mountain real estate market. Click any image below.