June’s Pending Home Sales Index is weak by most measures, but if you’re a home buyer, the headlines aren’t so bad. Fewer home sales can push negotiation leverage to the buy-side of a transaction.
Tag Archive | "Home Supply"
On the surface, May’s Pending Home Sales Index looks terrible for housing. And, if you’re a seller, it just might be. But, if you’re a buyer, the story reads differently. Just consider the market conditions.
According to the National Association of Realtors®, although the number of homes sold ticked higher in April, so did the supply of existing homes for sale, too. Sellers are now listing homes faster than buyers can buy them.
Home prices are based on housing’s supply and demand. For the next few months, supply should elevate, helping prices remain suppressed, after which, supply should dwindle. The best time to buy a home, therefore, may be right this very minute.
