What is "Low Inventory?" Are We In A Seller's Market?
If you have been following real estate news lately you have heard that our inventory is low! What does that mean?
Simply put, we have more buyers than we do homes for sale. Apparently, we are once again shifting back to a "seller's market."Â What is a seller's market? A seller's market occurs when we have low inventory.
In a seller's market the prices of real estate begin moving up and most real estate is sold in multiple offers in a short amount of time.If you are a homebuyer in Los Angeles you probably already know this. Generally, the seller has the upper hand in negotiations because they have so many offers to choose from and the buyer has so little to choose from.
Most buyers have to put in offers on several properties before getting an offer accepted. This is probably not the fault of your Realtor, but rather a result of this current market.
If you are thinking of selling, this may be the right time for you.