Without even asking the Realtor members of our Stammtisch what they thought, we could bet that all of them would consider our market very much a seller’s market. It appears from this recent Forbes.com article, we’re not alone in thinking that. And based off of his/her comments, we’re guessing “boomtime” would as well. (Thanks for the link!)
Some quotes worth noting:
“The best way to judge a buyer’s vs. a seller’s market is a simple supply vs. demand analysis of housing stock: At the current rate of sales, how long would it take to sell off the inventory whether single family homes or condos?”
“In the case of San Francisco, which ranked second on our list, it’s an issue of geography: There is little space for growth or new development and the local government doesn’t do much to incentivize new construction.” [We bolded that for you...think Daly, McGoldrick, Ellis Act restrictions, the growing number of TICs, etc.]
But damnit! Why aren’t we #1? Losing sucks! Good thing at least one of us has some rental property close to Raleigh, NC.
If you have something to contradict this article, please share it. If it is an entire link/post, just email it to us and we’ll gladly post it for you.
-Top Home Sellers’ Markets [Forbes.com]