Are You Thinking of Selling Your Home in Columbus, Ohio? Competition Is Coming from Local Builders.
Are you are looking to buy a home in Central, Ohio? As the largest REMAX Brokerage in Central Ohio, we ensure that you are given the best buying experience with knowledge and expertise to guide you along the way. One of the methods The Van Steyn Partners use is to research the current inventory almost on a daily basis. We want to know what the best deals for our clients when it comes to purchasing a brand new home in the Columbus area.
Today, we are going to discuss the how the Columbus, Ohio housing inventory is rising because of local builders catching up to the market.
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of building permits issued in June was 850,000, a 0.8% increase from May.
How will this impact buyers?
More inventory means more options. Mark Fleming, First American’s Chief Economist, explained that this is good news for the housing market – especially for those looking to buy:
“The continued year-over-year growth in completions means more homes on the market in the short-term, offering some immediate relief in alleviating housing supply shortages.”
How will this impact sellers?
More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:
- A great price on their home as buyers outbid each other for it.
- A quick sale as buyers has such little inventory to choose from.
- Fewer hassles as buyers don’t want to “rock the boat” on the deal.
If you are considering selling your house, you’ll want to beat this new competition to market to ensure that you get the most attention on your listing and the best price for your house.
Source…KCM Marc A. Van Steyn Blog
If you have any questions about the Columbus, Ohio area; the schools, amenities or the surrounding communities, don’t hesitate to call us at 614-596-2934. We would be happy to assist you. We specialize in the Central, Ohio area.
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Thinking of selling your home? Let The Van Steyn Partners take over the marketing of your property with our proprietary marketing system.