We are all ready for warmer weather, right? However, the days with temperatures over 40 have been scarce. That’s an easy way to look at supply and demand. In this case you end up with a lot of cold, unhappy New Englanders. When supply does not equal demand in real estate, you end up with a lot of buyers looking to purchase a home but not enough homes for sale.
These are the market conditions we are facing, and they have been confirmed in a survey by The National Association of REALTORS (NAR) in their monthly REALTORS Confidence Index.
The latest survey, featured on Keeping Current Matters’ blog, highlights the current relationship between supply (Seller Traffic) and demand (Buyer Traffic) in the United States. Comparing New England on the maps, you see that buyer traffic is “strong,” but seller traffic is “weak” in our area.
Image credit: Keeping Current Matters/NAR