Santa Barbara…What Better Place to Call Home?

It’s hard to beat the Santa Barbara area for incredible weather, beautiful views, and upbeat, friendly people. It’s why we want to live here and why I love my work as a real estate professional. This blog is my fun place, where I put up posts about local events, favorite restaurants, community information, occasional real estate tips and links to my monthly Santa Barbara real estate newsletter. I hope you like it! For in-depth real estate information, visit my site at www.SueIrwinRealtor.com or you can reach me at 805-705-6973 or email SueIrwinRealtor@gmail.com. Thanks – I would love to hear from you! – Sue Irwin

DRE 01413354

About Sue Irwin, Realtor

Buyer Demand Continues Outpacing The Supply Of Homes For Sale

The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes in that area. Only three states had a ‘stable’ demand level.

Seller Supply

The index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, 21 states report a ‘weak’ sellers traffic, 25 states report a ‘stable’ sellers traffic, only 4 states and DC report a ‘strong’ sellers 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.

Bottom Line

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 contact me, your local real estate professional, who can help you capitalize on the demand in the market now!