Why are home prices still rising? It is a simple answer. There are more purchasers in the market right now than there are available homes for them to buy. This is an example of the theory of “supply and demand” which is defined as:
“the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.”
When demand exceeds supply, prices go up. This is currently happening in the residential real estate market.
Here are the numbers for supply and demand as compared to last year for the last three months (March numbers are not yet available):
In each of the last three months, demand (buyer traffic) has increased as compared to last year while supply (number of available listings) has decreased. If this situation persists, home values will continue to increase.
Visit our site often to view the latest homes for sale at Lost Lake Woods Club. The Pearson Group Listings are featured with a link to more photos and details of each listing. There is a link at the very bottom of the article to all other broker listings available at Lost Lake Woods Club. Click "read more" and share with friends and family who want to latest news about what's currently for sale.