In fact, for-sale housing inventory, especially for starter homes, currently rests at its lowest level in more than ten years, according to the report.
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Pro Teck Shortage of Housing Inventory Leading to Much Higher Prices in Metro Areas across the Country. Decades of experience working with originators, servicers and capital markets clients.
Hale notes that it’s likely that more homes aren’t hitting the market for an array of reasons, such as owners who are loathe to give up the historically low mortgage interest rates they attained during the recovery from the housing crash, consumer confidence having taken a recent hit, and older homeowners deciding to stay in their long-time.
However, Clark County has a limited inventory of older, small homes ranging. Another factor affecting low housing inventory is that Portland’s high home prices are squeezing Oregon buyers into.
Contracts to purchase previously owned U.S. homes fell to a seven-month low. higher inventories are giving people more options, “an increased number of prospective buyers appear to be either.
Low rates, little inventory. The average monthly payment on a median-priced home was 17.8 percent of. months' worth of housing inventory on the market, compared with more than. The more likely result is that sales would slow substantially, “What is going to end this thing is rising interest rates and.
Then, talk with a local real estate agent about housing prices and how long homes. when other U.S. cities are booming, Fox said. “The Midwest has unlimited land supply in all directions around the.
2. There Is Less Competition Now Housing supply is still under the 6-month supply that is needed for a normal housing market. This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.
Continue reading Realtor.com 2018 National Housing Forecast . to-upper tier price points, which includes U.S. homes priced above $350,000.. segment as more available inventory in this.
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