If you’re debating whether or not to list your Tucson house for sale this year (or your Oro Valley or Marana home), here is the #1 reason to do it now:
Buyer Demand Continues to Outpace the Supply of Homes for Sale
The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on the current lack of inventory:
“Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand.
That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.”
The latest Existing Home Sales Report shows that there is currently a 4.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 6.1% lower than last year’s inventory level. In the Tucson area, the number of homes for sale reached a record low this March.
The chart below details the year-over-year inventory shortages experienced over the last 12 months on a national level:
Anything less than a six-month supply is considered a “seller’s market.”
Bottom Line – List Your Tucson House for Sale Now
If you’re thinking of selling, let’s talk. It may be the perfect time to list your Tucson house for sale (see 4 Reasons to Sell Your Home This Summer). Let’s get together to discuss the supply conditions in the NW Tucson, Oro Valley, Marana, Dove Mountain, or Catalina areas so that I can assist you in gaining access to the buyers who are ready, willing, and able to buy right now!