Real Estate Markets Experiencing Tripling of Inventories
CNN Money entitled an article about rising home inventories as going from “Bad to Worse” (Housing glut) but for professional real estate investors who take a long term buy and hold strategy to real estate investment, a rise in housing inventories only means from better to best! If you’re a home seller (or flipper) in these types of markets things can be difficult but potential sellers who can hold for a longer period will do so when they observe that prices are being pressured downward by rising inventories. Of course some home sellers will not be able to hold on to their properties and prices will decline if more and more home sellers flood the market with properties.
So if you’re in a declining local market and can afford to hold on to your properties you would be well advised to do so, if not, expect that the sale of your property is going to be tumultuous and may languish on the market for many months, which may not be a problem if you expect this from the outset. Either way, it’s a great time to be buying real estate!
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