Why Demand For Home Inspection Is High In These Cities

Posted on Jun 11 2018 - 8:58am

View of house from the streetIf you have been thinking of buying a home inspection business for sale in Seattle or San Jose, Pillar to Post notes that now may be a good time to do so with the pace of sales in these cities.

It only takes 36 days to complete a transaction in Seattle, which means that home buyers want to settle all due diligence within this time. In San Jose, the market has been the best place for flipping homes with average gross profits costing $331,000.

Fast-Paced Deals

Homes in Seattle sell within the shortest time due to a lack of supply, which is caused by strict zoning rules that restrict the construction of new homes. Prices then rose almost 20% in the previous year. Sellers in San Jose also sold homes within 36 days, although prices there have increased by 22%.

Residential properties in San Francisco are the most expensive with a median price of $1.3 million. Houses in the city also sell within 36 days, although it could be longer due to the high average price. Nationwide, sellers can close deals within 64 days in April. In some markets, however, it may take more than three months to close a deal.

Slow Market

You may think that a listing in New York City will be gone in a month, but a glut in supply has made it hard for sellers to find interested buyers. It takes 128 days for a listing to disappear from the market. The new tax law may be a reason behind the longer selling time, as the regulation reduced the incentives of buying more expensive properties.

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Syracuse and Long Island are the other cities in the New York state with the most extended selling periods at 144 and 132 days, respectively.

Conclusion

The strong demand for homes in major cities around the U.S. signal a need for home inspection services, especially in areas where properties sell for a slim timeframe.