Buyer Demand Continues Outpacing The Supply of Homes For Sale

The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes in that area. Only three states had a ‘stable’ demand level.

Seller Supply

The index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, 21 states report a ‘weak’ sellers traffic, 25 states report a ‘stable’ sellers traffic, only 4 states and DC report a ‘strong’ sellers traffic. Meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale contact me, your local real estate professional, who can help you capitalize on the demand in the market now!

How To Install Under Cabinet Lighting & Power

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Learn how to install your own backsplash!

Lighting Steps
1. Go to the main electrical panel and turn off the power to the existing under cabinet lights and outlets.
2. Unscrew the old light fixtures from the underside of the cabinets.
3. Use a jigsaw to cut a hole in the cabinet back for an old-work junction box.
4. Cut a similar hole in the wall directly above the cabinets.
5. Push two nonmetallic electrical cables through the upper hole and down into the hole cut inside the cabinet.
6. Cut a hole in the kitchen wall for an old-work switch box, then use a fish tape to pull a cable into the hole.
7. Push the ends of the cables through the rear of the switch box, then screw the box to the kitchen wall.
8. Wire a dimmer switch into the box; be sure the switch is designed for use with LED lights.
9. Make the wire connections in the junction box inside the cabinet. Screw a blank cover onto the junction box.
10. Make the wire connections inside the light fixtures, then screw the fixtures to the underside of the cabinets.
11. Run a new cable to the wall beneath the cabinets, then install the 120-volt outlet strips.
12. Make the final wire connections at the outlet strips and test your work.

Ultimate Lounging For All Patios

Many of us aren’t able to change the sizes and layouts of our patios or decks. We’re left to choose furniture and its arrangement, decide what to plant, and select other outdoor elements to make the space our own. Make tiny terraces feel larger and expansive decks more inviting with these tricks for styling your outdoor lounge.

Small Bistro Approximate size: 48 square feet (4.5 square meters) or smaller
Great for: Hanging out on your own or with one or two other peopleIf you’re starting with a deck, patio or balcony with a small footprint, most design challenges center on how to maximize the space. Steal a design trick from this contemporary terrace in London and stick to a light and bright color palette to visually open the space and make it feel larger than it actually is.

This cozy balcony in Stockholm makes an argument for getting the largest outdoor lounge your small patio will support. The homeowners squeezed a sectional sofa into their postage stamp-size terrace, creating enough seating to host a small group. Piles of pillows, a soft throw, a bistro table for drinks and a chevron outdoor rug make the space even more inviting.
Hanging chairs can be a great option if you have an awning or covered porch. They make a bold design statement and keep the floor clear. A single cloud-gray egg-shaped chair hung in the corner of a covered porch looks almost irresistible, encouraging one to curl up with a good book.

There are a few ways to approach a small, narrow space such as a skinny rooftop terrace or a side yard patio. This rooftop deck in New York uses wall-mounted planters to save floor space and adds lounge chair seating that is long but narrow. A hammock with a floor stand may not be practical to walk around, but it sure looks like a dreamy destination for an afternoon nap.Another strategy for narrow spaces is to use furniture, screens or medium-size plants to divide the space. For example, placing a bench seat running across the shorter side of a patio can help the space feel wider and less like a corridor.

Medium-Size Outdoor Living Room Approximate size: 120 square feet (11 square meters)
Great for: Kicking back with a small groupCombinations of furniture, such as a built-in bench paired with outdoor chairs or a sofa, often work well to allow flexibility, expand seating and open up more room for planting on medium-size patios or decks.

The designer of this southwest London backyard built bench seating into the planter to save space and create a cozy nook for a couple of people. A folding table and a pair of bright Acapulco chairs can be moved in to allow seating for additional guests.

This medium-size roof deck in London’s Kensington neighborhood also uses a combination of seating options to comfortably accommodate up to seven people. The designer included four cushy ottomans instead of a second outdoor sofa. This keeps the seating arrangement flexible and views of the garden and rooftops uninterrupted. The low-lying ottomans also open up space for a row of boxwoods potted in tall planters, a pleasing design feature of the terrace.

Decks that are 12 by 12 feet, plus or minus a foot or so, can be ideal for hosting a small group in a space that feels intimate rather than too spread out. If your existing hardscape feels larger than what you can use for a lounge, consider quartering off a section of it as a small group seating area.For example, this San Francisco backyard uses an L-shaped bench seat to define a lounge area around an outdoor table. The space feels cozy and inviting for four or five people to share a conversation.

Larger Entertaining SpotApproximate size: 168 square feet (15.6 square meters) or larger
Great for: Hosting a backyard party for six or moreOne of the challenges of choosing the furniture layout and planting design for a large patio is making an expansive space feel more human-scale. For example, arranging large-scale outdoor seating in U-shaped or semicircular layouts, around a coffee table or fire pit, can make the space feel like a cozy, more inviting gathering place.

This expansive rooftop terrace in London, also shown in the previous photo, uses a U-shaped arrangement of sectional outdoor sofas to form an inviting lounge for a large group. The surrounding planters — filled with trimmed boxwood, pale pink and white geraniums, fragrant confederate jasmine and a small tree — encircle the seating area, enhancing the pleasant feeling of enclosure.
This garden in Sheffield, England, achieves a similarly intimate feeling in a large space with two semicircular sectional sofas arranged to face each other across a small table. This is a great spot to entertain guests on warm summer evenings.

Lowering the ceiling of an outdoor room can make an open area feel less exposed. In this backyard in Marin County in Northern California, a movable shade sail set on wires provides cover from the sun and makes the space feel more intimate.Other ways to lower the ceiling of your outdoor room: Build a pergola, plant trees to provide a leafy canopy or hang crisscrossing string lights overhead.