If you are debating listing your Baton Rouge house for sale this year, here is the #1 reason not to wait!
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 inventory:
“Last month’s dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the market.
Demand is easily outstripping supply in most of the country and it’s stymieing many prospective buyers from finding a home to purchase”.
The latest Existing Home Sales Report shows that there is currently a 4.2-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 4.6% lower than a year ago.
The chart below details the year-over-year inventory shortages experienced over the last 12 months:
The Baton Rouge real estate market is also in need of houses to sell to meet the local demand. The summer market is in full swing but buyers are not able to find their dream home due to the inventory shortage.
Contact Glenda Daughety today to learn more about real estate in Baton Rouge LA. We welcome the opportunity to update you on current market conditions while recommending lenders at the same time. Let our knowledge and experience serve as your guide to Baton Rouge real estate.