"Is There A Difference? Total Inventory Vs Single Family Homes?"

Absolutely!

The housing market in Collin County is a hot one, with homes selling quickly and prices rising. In this market, it's important to understand the difference between total inventory and active single family listings.

Inventory refers to the total number of homes on the market, both single-family homes and multifamily homes. Active listings refer to the number of single-family homes that are currently for sale.

In a balanced market, inventory and active listings are about equal. However, in a seller's market like Collin County, inventory is low and active listings are high. This means that there are more buyers than sellers, and homes are selling quickly.

The low inventory in Collin County is due to a number of factors, including:

• A growing population: Collin County is one of the fastest-growing counties in Texas. The population has increased by more than 20% in the past five years, and it is expected to continue to grow in the coming years.
• A strong economy: The economy in Collin County is strong, with low unemployment and high wages. This makes it a desirable place to live and work, which drives up demand for housing.
• Limited new construction: There is limited new construction in Collin County, which is another factor that contributes to the low inventory.

The high active listings in Collin County are due to a number of factors, including:

• A large number of buyers: There are a large number of buyers in Collin County, including families, young professionals, and retirees.
• A strong demand for housing: The demand for housing in Collin County is strong, due to the growing population, strong economy, and limited new construction.
• A competitive market: The housing market in Collin County is competitive, which means that buyers are often willing to pay above asking price to secure a home.

If you are thinking about buying a home in Collin County, it's important to understand the difference between inventory and active listings. The low inventory means that homes are selling quickly, and you may need to be prepared to act fast if you find a home that you want.

Here are some tips for buying a home in Collin County:

• Get pre-approved for a mortgage: This will show sellers that you are serious about buying and will give you an idea of how much you can afford.
• Work with a real estate agent who knows the market: A good agent can help you find the right home for your needs and budget.
• Be prepared to compromise: You may not be able to find a home that has everything you want, so be prepared to make some concessions.
• Don't be afraid to negotiate: The seller may be willing to lower the price or offer other concessions.

Buying a home in Collin County can be a great investment. With careful planning and preparation, you can find the perfect home for your needs and budget.

Contact: The DeBerry Team of KW today for assistance 214-215-5106