Montgomery County PA Homes for Sale Inventory Shrinks

Montgomery County PA Homes for Sale Inventory Shrinks
montgomery county pa homes for saleData on montgomery county PA homes for sale  from multiple industry sources, show that Montgomery county PA homes for sale inventory of both new and existing homes are at or near their all-time lows. The number of new homes for sale equates to only 5.1 months’ worth of demand. At the current sales rate, the supply of existing homes is enough to satisfy only 6.1 months’ worth of demand.

montgomery county pa homes for sale

Both figures are roughly 30% below their long-run averages and equate to a lack of quality choices of Montgomery county PA homes for sale from which a buyer can choose. Thus, quality properties, with sellers having equity are getting full list price, because buyers are keenly aware that good homes are hard to find.

If home prices are going up so fast, why aren’t more people listing their montgomery county PA homes for sale? According to James Harner,  with Prudential Fox and Roach Realtors,
“Many of these homeowners owe more on their mortgage than what their house is currently worth. Meaning that to sell it, they would have to come up with additional money at the time of closing to pay off their loan,” Harner says.  Since many homeowners are not in a position to do that, they cannot list their homes,  This is greatly restricting the supply of quality Montgomery county PA homes for sale on the market.

According to our estimates, 21.7% of Pennsylvania homeowners with a mortgage were underwater as of the first quarter of 2013. Corelogic puts the figure at 21.5%. Either way, my point is that a significant portion of potential supply of montgomery county PA homes for sale is likely being held off the market due to this important fact of negative equity.

Selling your homeCall James Harner at 610-831-8138 for information on how to get our proven “Up Sell Your Home in Any Market program” , virtually guaranteeing home sellers results of up to 18% more money in half the time of traditional real estate agent approaches, when listing your Montgomery count PA homes for sale. To find out more fill out this form, we will contact you TODAY.

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