Last Thursday, the National Association of Realtors confirmed what homebuyers across the nation have been saying for months – it’s a seller’s market. There is an ever-increasing pool of buyers going after a shrinking supply of available homes on the market.

Last month, the number of homes listed for sale in the United States fell to just 1.74 million homes – the lowest national inventory since December of 1999, when there were 1.71 million homes on the market. To show how much inventory levels have dropped recently, there were 2.91 million homes on the market in January of 2011.

At the current rate of sales, it would take only 4.2 months to sell the existing supply of homes available for sale, which is down from a 6.2 months’ supply just one year ago. Low inventory levels paired with growing demand has caused home prices to increase, and if this trend holds, prices are expected to continue to rise.

Even though inventories have been known to increase in the spring, the National Association of Realtors is concerned that the lack of choice for homebuyers is stifling sales volumes. This is good news for homeowners who have been watching home prices drop over the last six years, but bad news for buyers.

According to economists at Goldman Sachs, home sales could rise to 5.2 million units this year, which would represent an increase of almost 12 percent compared to last year. However, the economists note that this prediction will be hard to hit if there isn’t sufficient inventory for buyers to purchase.

The National Association of Realtors confirmed what we’ve been saying here at Real Estate Closing Solutions in Orlando – it is a great market for sellers! If you are getting ready to sell your Orlando home, contact our Orlando title insurance company for reliable listing agent referrals, title insurance and escrow closing services. Give us a call at 407-615-8550 today. We are recognized as the best service provider in the title insurance and closing industry!