Real Estate Articles

Inventory of Homes for Sale | By: Joe Lorenz

By JOE LORENZ President, Stark County Association of Realtors Published: 

Are you thinking about listing your home or other real estate for sale? Be aware of how challenging the market is now if you are a prospective seller or buyer. The recovery in home sales across the country -- and certainly in Ohio -- is so strong that real estate professionals are coping with a significant shortage of inventory.

That's why Realtors are characterizing the current market situation as a seller's market. You need to understand this if you are developing a sales strategy with your Realtor.

The Ohio marketplace today is attracting homebuyers looking to take advantage of the mortgage rates, which are hovering around 4 percent. There appears to be a firm understanding, despite changing economic conditions, that housing continues to be a solid, long-term investment.

According to the National Association of Realtor's monthly Realtors Confidence Index, the percent share of first-time buyers increased slightly for the first time in February since November 2014, up to 29 percent from 28 percent in January.

Having so many of our individual markets record positives in a state as diverse as Ohio, with its unique blend of big urban markets and smaller, rural locales, is an indication that the Buckeye State is making significant headway in its recovery effort. And it reinforces the message that if you or someone in your family is considering selling soon, there needs to be good counsel from a professional Realtor, who knows the status of the marketplace in fashioning a listing that will deliver the results you are expecting.

Bringing this information back to our community is the key to your knowing that now is the best time to make your move. Selling now and buying more than you would have three years ago is a win for the sellers. The buyers also benefit through the purchasing power of low interest rates.

Well, are you ready? 

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