There are a lot of things about a house that might cause a potential buyer to decide against it. Maybe it’s a great house but in the wrong location or it needs more work than they’re willing to do. In some cases, it might just be a bad fit for their lifestyle, needs, or budget. That’s why the typical buyer looks at least a handful of houses before deciding to make an offer on one. In this market, though, buyers may have to be more flexible. That’s because, the number of homes available for sale is lower than normal. In fact, according to new data from the National Association of Realtors’ consumer website, the number of new listings is between 17 and 21 percent lower than last year at the same time. And nationally, housing inventory is down 27.4 percent. Danielle Hale, the website’s chief economist, says new listings have improved but buyer demand is outpacing supply. “Our June data reinforces that buyers are out in force and serious about finding a home,” Hale said. “Although the new listings trend has improved, inventory continues to decline, indicating that what is coming onto the market is selling.” (source)
