“supply/demand imbalance is becoming extreme” says Mike Orr of the Cromford Report

 

Every Month we like to post the latest article by Mike Orr to educate our clients on the most recent stats in our local Real Estate Marketplace.  Very few have not been affected and with prices comparable now to those of nearly 20 years ago, we are seeing very little inventory out there for buyers to pick from.  

CLICK HERE to read Mike’s entire article; but here’s a summary quote that is very telling.

 

Inventory-page-001“It seems to me that although the supply/demand imbalance is becoming extreme, demand from investors alone is unlikely to sustain a significant upward price movement. We may have to wait until the general public realizes the degree to which the reality and perception of the supply picture have diverged, so that fear of missing out on a bargain overcomes the fear of prices dropping yet further.” 

Our thoughts is that once word is out to those “fence sitters” that there are few “good” houses out there right now, those prices will start to climb as more competition hits our local market place.  Don’t miss the “bottom” if you are thinking about buying!  And for those of you wanting to (Short) sell, homes are going fast- before the holidays roll around and it slows down- give us a call to discuss your options 480-243-4242 or CLICK HERE to get started.

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