Low inventory! What does that really mean? What are some reasons?
- Low inventory is in some part seasonal. For example, we have been having a cold spell here in Huntersville, NC. Once the weather warms we’ll start seeing more activity in the real estate market.
- Many homeowners have taken advantage of historically low rates and either purchased homes or refinanced on their current home. They may not wish to sell in the near future.
- During the market downturn investors bought properties. Investors are holding onto these properties as rentals and are not likely to sell for some time.
- Homeowners see the value of their homes going up but think the value will continue to climb. They don’t want to sell until they see the cycle turn.
- New construction is not yet keeping pace. It takes time for new construction which is a lengthy process in any case, to catch up after a downturn.
The good news is if you have a home to sell in the Lake Norman area that is priced well, staged properly, and marketed properly to buyers you should not have any difficulty getting a quick sale! Call or text Diane at 704-657-1735 for information on how to get your home sold.