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

Realty Solutions Group

Service Beyond Expectations

SearchClose

Wood County Housing Inventory Disappearing: What Is the Impact on You?

Wood County Housing Stock Vanishing: What Does This Mean to You?

The Wood County real estate market is anticipated to do very nicely this year as mortgage rates stay at historic lows. One challenge to the housing industry is the lack of houses out there on the market. Last week, move.com released a report showing that 2020 is beginning with the lowest 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 stock in nearly three years with a dramatic 12 percent decline, pushing the number of homes for sale within the U.S. to the lowest level since January 2018.”

Wood County Housing Inventory Vanishing: How Does This Affect You?

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

“The market is battling a big housing undersupply just as 4.eight million millennials are reaching 30-years of age in 2020, a chief age for many to purchase their first home. The numerous stock drop…is a harbinger of the persevering with imbalance anticipated to plague this year’s markets, because the number of properties on the market are poised to reach traditionally low levels.”

The question is: What does this mean to you?

If You’re a Wood County Home Purchaser…

Be patient during your home search. It might take time to discover a home you love. When you do, nevertheless, be prepared to move ahead rapidly. Get pre-approved for a mortgage, be able to make a competitive offer from the start, and understand that a} scarcity in inventory may result in the resurgence of bidding wars. Calculate simply how far you’re willing to go to secure a house, should you truly adore it.

If You’re a Wood County Home Seller…

Realize that, in some ways, you’re in the driver’s seat. When there’s a scarcity of an merchandise on the identical time there’s a robust demand for that item, the vendor of that merchandise is in an excellent position to negotiate. Whether or not it’s worth, transferring date, attainable repairs, or anything, you’ll be able to demand more from a possible purchaser at a time like this – especially in case you have a number of interested buyers. Don’t be unreasonable, however perceive you probably have the upper hand.

Bottom Line

The Wood County housing market will stay strong throughout 2020. Understand what that means to you, whether you’re shopping for, selling, or doing each.

Table of Contents

    • If You’re a Wood County Home Purchaser…
    • If You’re a Wood County Home Seller…
  • Bottom Line

Post navigation

« Winnebago County Housing Stock Vanishing: What Is the Impact on You?
By Generation: Where Homebuyers Are Heading! »
Search for:

Recent Posts

  • How Buying or Selling a Home Benefits the Economy and Your Community May 25, 2022
  • Sellers Have an Opportunity with Today’s Home Prices May 24, 2022
  • Sellers Have an Opportunity as Home Prices Re-Accelerate May 24, 2022
  • Work With a Real Estate Professional if You Want the Best Advice May 23, 2022
  • Don’t Let Rising Inflation Delay Your Homeownership Plans [INFOGRAPHIC] May 20, 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