Supply catching up to demand

The  45% of agents reporting a higher number of buyers than sellers is far more balanced than the 61% just 3 months ago. The final results of the survey tallied 45% of agents reporting more buyers than sellers, 31% reported more sellers than buyers, and the remaining 24% reported a balanced split. The balanced split could serve as an explanation to other results of the survey.

  • Home inventories are continuing to rise
  • Multiple offer frequency has decreased by 31% from 70% in the first quarter of 2005 compared to 39% in the first quarter of 2006
  • Only 7% of sellers are getting more than the asking price

As the market continues to cool it will be important to use selling tactics for a slow market. Flat fee MLS listing is a good alternative to the traditional method saving sellers thousands in commissions. The MLS is an important marketing tool as 75% of home sales take place through the Multiple Listing Service. Sellers will have the opportunity to use commission savings advantageously in pricing and enticing agents to bring potential buyers.  

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