The current housing landscape presents greater home values, low-interest rates, and high buyer demand. All of these factors point to the active market forecasted to continue throughout the rest of the year.

There is, however, one thing that may cause the industry to tap the brakes: an overall lack of housing inventory. Buyer demand naturally increases during the summer months, but the current supply is not keeping up.

Here is a look at what a few industry experts have to say:

Lawrence Yun, Chief Economist at National Association of Realtors

     |“Imbalance persists for mid-to-lower priced homes with solid demand and insufficient supply, which is consequently pushing up home prices.”

Mark Fleming, Chief Economist of First American

     |“Market conditions are ripe for increasing home sales with one glaring exception. The supply of homes for sale remains tight, keeping existing home sales below potential.”

Danielle Hale, Chief Economist of Realtor.com

     |“We’re not seeing as many new listings come up on the market…It was only 18 months ago that the number of homes for sale hit its lowest level in recorded history and sparked the fiercest competition among buyers we’ve ever seen.”

Bottom Line

If you’re thinking of selling, now may be the time. Demand for your house will be strong during the period while there is very little competition. The lack of housing inventory may lead to a quick sale and a possibly an excellent return on your investment. Remember to work with a local Realtor© to ensure that your home is priced right and be careful not to get too greedy.

Courtesy of Simplifying the Market