The Benefits of Homeownership May Reach Further Than You Think 4.1KSHARES 3.8K 112 34 163 More than ever, our homes have become an integral part of our lives. Today they
Aug 10 2018 40187 1
Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as:
When demand exceeds supply, prices go up. Every month this year, demand (buyer traffic) has increased as compared to last year and for the first five months of 2018, supply (the number of available listings) had decreased as compared to last year. However, a recent report by the National Association of Realtors (NAR) revealed the first year-over-year increase in supply in three years.
Here are the numbers for supply and demand as compared to last year since the beginning of 2018:
The increase in the June numbers doesn’t mean that prices won’t continue to appreciate. In that same report, Lawrence Yun, NAR’s Chief Economist, explained:
The reason home prices are still rising is that there are many purchasers looking to buy but very few homeowners ready to sell. This imbalance is the reason prices will remain on the uptick.
David is a home town guy from South Mississippi. In his spare time he enjoys playing golf and tennis with his friends and family. When it comes to Real Estate he is very knowledgeable and resourceful.....