You may have heard that the housing market is softening. There is no doubt that buyer traffic has decreased. There are fewer purchasers in the market than there were last month and at this time last year. What you may not have heard, however, is that there is still a severe shortage of listing inventory in many regions of the country and that is especially true here in Wayne and Pike County and the greater Lake Wallenpaupack / Lake Ariel region.
In a recent interview discussing the housing market, First American’s Chief Economist Mark Fleming put it simply:
“The biggest challenge is really the availability of supply.”
When we look at available inventory numbers released by the National Association of Realtors (NAR), we see that the actual number of homes for sale has decreased in each of the last five months.
What does this mean to you as a seller?
The best time to sell is when there is a shortage of good homes for sale on the market; less competition for you is a good thing.
If you are thinking of selling your house, the best time to put it on the market is right now. Contact me for a complimentary market analysis (CMA) of your home, whether it’s in The Hideout, Tanglwood, Wallenpaupack Lake Estates – and of course, everywhere else in the northern Pocono Lakes Region!