• Skip to main navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer

Realty Solutions Group

Service Beyond Expectations

SearchClose

Walworth County Housing Stock Disappearing: How Does This Affect You?

Walworth County Housing Stock Disappearing: What Is the Impact on You?

The Walworth County real estate market is expected to do very well this 12 months as mortgage rates stay at historic lows. One challenge to the housing industry is the shortage of properties out there on the market. Last week, move.com released a report showing that 2020 is beginning with the least available housing stock in two years. The report explains:

“Last month saw the largest the most important the biggest year-over-year decline of housing inventory in virtually three years with a dramatic 12 % decline, pushing the number of properties on the market in the U.S. to the lowest degree since January 2018.”

Walworth County Housing Stock Vanishing: What Is the Impact on You?

The report also revealed that the decline in stock stretches across all price points, as shown within the following graph:George Ratiu, Senior Economist at realtor.com, explains how this drop in available properties on the market comes at a time when extra buyers are anticipated to enter the market:

“The market is fighting a big housing undersupply just as 4.8 million millennials are reaching 30-years of age in 2020, a prime age for a lot of to buy their first residence. The significant stock drop…is a harbinger of the persevering with imbalance anticipated to plague this year’s markets, as the number of homes for sale are poised to reach traditionally low ranges.”

The question is: What does this mean to you?

If You’re a Walworth County Home Buyer…

Be patient throughout your home search. It might take time to discover a residence you like. When you do, nonetheless, be ready to maneuver ahead shortly. Get pre-approved for a mortgage, be ready to make a competitive offer from the beginning, and understand that a} shortage in stock might lead to the resurgence of bidding wars. Calculate just how far you’re keen to go to safe a house, in the event you actually like it.

If You’re a Walworth County Home Seller…

Notice that, in some ways, you’re within the driver’s seat. When there’s a scarcity of an merchandise at the same time there is a strong demand for that item, the seller of that item is in a great place to barter. Whether it’s value, shifting date, potential repairs, or anything, you’ll be capable of demand more from a possible purchaser at a time like this – especially if you have a number of consumers. Don’t be unreasonable, but perceive you in all probability have the higher hand.

Bottom Line

The Walworth County housing market will stay strong throughout 2020. Understand what that means to you, whether or not you’re buying, selling, or doing both.

Table of Contents

    • If You’re a Walworth County Home Buyer…
    • If You’re a Walworth County Home Seller…
  • Bottom Line

Post navigation

« Vilas County Housing Stock Disappearing: How Does This Affect You?
Washburn County Housing Stock Vanishing: What Does This Mean to You? »
Search for:

Recent Posts

  • The One Thing Every Homeowner Needs To Know About a Recession May 19, 2022
  • How Homeownership Can Bring You Joy May 18, 2022
  • Why Rising Mortgage Rates Push Buyers off the Fence May 17, 2022
  • If You’re a Homeowner, You Have Incredible Leverage When You Sell Today May 16, 2022
  • Should You Update Your House Before Selling? Ask a Real Estate Professional. [INFOGRAPHIC] May 13, 2022

Recent Comments

    Archives

    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • January 2018
    • December 2017
    • November 2017
    • October 2017
    • September 2017
    • August 2017
    • July 2017
    • June 2017
    • May 2017
    • April 2017
    • March 2017
    • February 2017
    • January 2017
    • December 2016
    • February 2016
    • 0

    Categories

    • Baby Boomers
    • Buying Myths
    • Demographics
    • Distressed Properties
    • Down Payments
    • First Time Home Buyers
    • For Buyers
    • For Sellers
    • Foreclosures
    • FSBOs
    • Gen Z
    • Generation X
    • Holidays
    • Housing Market Updates
    • Infographics
    • Interest Rates
    • Luxury Market
    • Millennials
    • Move-Up Buyers
    • New Construction
    • Pricing
    • Rent vs. Buy
    • Selling Myths
    • Senior Market
    • Short Sales
    • Time-sensitive
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Search for:

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    Go to mobile version