Ten Percent Of Home Searches Can’t Match Buyers’ Desires With Available Homes

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In most cases, potential buyers are looking for homes cheaper than the bulk of the available stock

 

October 06, 2016

Photo: NETarrantMan/Wikimedia Commons

CNBC, via a Trulia report, found that 10.4 percent of searches at a certain price point failed to match the available inventory at that price point. It is a rise of more than two percentage points from one year ago.

Most mismatching occurred in markets with too much luxury supply and too little affordable supply, like Houston, Dallas, and Charlotte, N.C. The opposite was the case in places like Detroit, Philadelphia and Dayton, Ohio, where too many lower-priced homes were available, but not enough luxury homes were up for sale.

For buyers, the mismatches are extremely frustrating, but for sellers, they can be profitable. If your home is in the right price category, where demand is high and supply is low, then you're in the money. … Investors will want to take note of mismatches as well. If a market is highly mismatched, there are likely to be more renters than buyers, which bodes well for single-family landlords.

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