Why Are So Few Homes for Sale? (집매물 이 최저인 이유는?)

 

Why Are So Few Homes for Sale?

  • 47% – existing homeowners are worried that they will not be able to find a home to buy    (이사갈집을 못찿을까 에대한걱정)   
  • 26.5% – first-time buyer demand is absorbing a large share of available homes   (첫집을 마련바이어들의 발빠른 움직임) 
  • 11.3% – existing homeowners’ mortgage rates are lower than the current rates  (살고 있는집의 이자율이  살집 이자 보다 낮아서) 
  • 10.6% – insufficient or negative equity in the home (남은 EQUITY 가 없거나 충분치 않음)  
  • 4.6% – foreign buyer demand is absorbing a large share of available homes  (외국인 바이어들의 많은 집구입)  

There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.”

First American just released the results of a survey which sheds light on the reasons for the current lack of supply.

The survey asked title agents and real estate professionals to identify what they believe are the top reasons for this lack of inventory in their markets. Here are the results of the survey:

  • 47% – existing homeowners are worried that they will not be able to find a home to buy
  • 26.5% – first-time buyer demand is absorbing a large share of available homes
  • 11.3% – existing homeowners’ mortgage rates are lower than the current rates
  • 10.6% – insufficient or negative equity in the home
  • 4.6% – foreign buyer demand is absorbing a large share of available homes

As the survey revealed, there is a shortage of current homeowners willing to put their homes on the market for one of three reasons (see numbers 1, 3 and 4 above).

Is this an opportunity for some homeowners?

The report on the survey explains:

“The crowd has spoken, and it seems in many markets home buyers and sellers alike are ‘imprisoned’ by the lack of housing inventory.”

That leaves a tremendous opportunity for every homeowner not facing these concerns. If you can put your home on the market today, you are subject to far less competition than at any time in recent history. That will result in your home selling quickly and for the highest possible price.

Bottom Line

While many homeowners are feeling imprisoned for multiple reasons, those who are not handcuffed by these concerns have a once in a lifetime opportunity to sell their houses at a peak selling time.