The price of any item is determined by the supply of that item, as well as the market demand.
The map below shows the buyer traffic in The United States
The darker the blue, the stronger the demand for homes in that area.
The map below shows the seller traffic in The United States
As you can see from the map below, the majority of the country has weak seller traffic, meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.
Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale, give us a call so we can help you capitalize on the demand in the market now!
Courtesty of KCM -Keeping Current Matters