One of the questions I’m frequently asked by home buyers is “if the market favors sellers so much, why aren’t more people selling their homes?”
That’s a great question and unfortunately I just don’t have a great answer. The theory (and hope if you represent buyers) in our area over the past 2 years is that if values go up high enough sellers will be compelled to list their houses.
The problem is we are there….and they’re still not putting their homes on the market. We have exceeded peak prices in our higher end markets such as Manhattan Beach and Hermosa Beach, yet home inventory is almost non-existant.
I realize I’m going to sound like a realtor here, but home sellers…….NOW IS AN IDEAL TIME TO SELL!!!