Real Estate Inventory at Historic Low
Get Breaking News First
ST. LOUIS (KMOX) – If you’re thinking of putting your home on the market, real estate experts are saying now is the time.
Agencies like Coldwell Banker Gundaker say they actually have more buyers than sellers right now, meaning most houses that come on the market get multiple offers.
Prices are on the rise, too. They’re about 8 percent higher than a year ago, and with such low inventory, a lot of homes are getting multiple contracts, which also drives the price up.
President Jim Dohr says there are probably a few reasons people are hesitant to list their homes right now.
“Some people who purchased at the peak of the market are still looking at prices that haven’t recovered enough for them to feel comfortable enough to put their home on the market without suffering a loss,” he says.
Dohr says he knows of several sellers who are waiting until the weather gets nicer to spruce up the outside of their homes in hopes that it’ll raise the price.
(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
MORE LOCAL NEWS: