last is total inventory......
Keep in mind some homes on the market for a few days already got someone in mind,
Yes. The rebounding economy is bringing people who want to buy Real Estate out in droves.
We have pent up demand from several years where people were sitting on the sidelines waiting for prices to go down some more.
Now that prices are headed back up, people are jumping in from the sidelines to get a house before they get left behind.
The result is that the huge inventory of homes that we have had for the past several years is being sold off rapidly. We now have a shortage of homes instead of the huge surplus of homes that we have had for the past few years.
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
Email Address: email@example.com
However, it is a good sign that the strong demand is helping lifting the ailing industry such home owners will start considering selling their homes. Many relocation home owners have not unload their old homes relying on tenants to occupy their previous principle homes.
This should be a temporary glitch.