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Housing Starts data is good news for home sellers

This weeks Housing Starts data is good news for home sellers. Housing Starts fell in October to their lowest levels since 1947. Building permits were also down. Fewer homes under construction results in less inventory for home buyers to select from. Decreasing supply will add a strong support floor to home prices. Sellers may feel less pressure to lower asking prices. When supply is less than demand, prices increase, and vice verse.

(Image courtesy: The Wall Street Journal)

Posted by Scott Fowler - Greenville SC Mortgage Planner on 11/21/2008 04:07 PM

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October Housing Starts in the ActiveRain Channel

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Scott Fowler - Greenville SC Mortgage Planner

Greenville, SC

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Horizon Financial, Inc.

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