Lack Of Homes For Sale Slowing Down The Housing Market
Here are the thoughts of a few industry experts on the subject:
“Total housing inventory at the end of December dropped 10.8%...which is the lowest level since NAR began tracking the supply of all housing types in 1999. Inventory has fallen year-over-year for 19 straight months and is at a 3.6-month supply at the current sales pace.”
“More than two-thirds of the markets are seeing less inventory now compared to a year ago.”
“The dismal number of listings in the affordable price range is squeezing prospective first-time buyers the most. As a result, young households are missing out on the wealth gains most homeowners have accrued from the 41% cumulative rise in existing home prices since 2011.”
“The lack of affordable supply is really driving up home prices.”
“Tight housing inventory remains a constraining factor limiting stronger sales growth…
We expect further price growth to entice more homeowners to list their homes, particularly as existing homeowners have greater equity.”
As a dedicated real estate broker I have helped over 500 families purchase or sell their home and I am qualified to guide you through buying or selling a home. Buying or selling a home is one of t....
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