housing inventory: Where Have All the Houses Disappeared To?
- 01/29/20 08:34 AM
Vecteezy If you’re following what’s happening in the current housing market, you’ve seen how the lack of newly constructed homes is a major reason there’s a shortage of housing inventory available to today’s buyers. Another reason is that the inventory of existing homes for sale is shrinking. According to the most recent Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 10.8% from the same time last year. That exceeds expectations and is great news. The troubling news from the report is that the sold inventory is not being replaced. As NAR explained, “Total housing inventory at the end of December totaled 1.40 million units, … (0 comments)
housing inventory: The #1 Reason It Is Difficult to Find Your Dream Home
- 01/23/20 09:52 AM
Shutterstock The headlines in real estate today all revolve around one major point: there is a shortage of homes available for sale. Price appreciation is accelerating again because there is a shortage of homes available for sale. First-time buyers are taking longer to purchase a home because there is a shortage of homes available for sale in the lower price points. Boomers are staying in their current homes longer because there is a shortage of homes available for sale to which they would move. In certain markets, affordability is becoming more challenging because there is a shortage of homes available for sale. What’s the major reason for this lack of … (0 comments)
housing inventory: Housing Inventory Vanishing: What Is the Impact on You?
- 01/16/20 10:43 AM
Shutterstock The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is beginning with the lowest available housing inventory in two years. The report explains: “Last month saw the largest year-over-year decline of housing inventory in almost three years with a dramatic 12 percent decline, pushing the number of homes for sale in the U.S. to the lowest level since January 2018.” The report also revealed that the decline in inventory stretches across all price points, … (2 comments)
housing inventory: December 2019: The Buyer Stakes Are High Because Inventory Is Low
- 12/16/19 10:13 AM
Shutterstock The reality of what we’re seeing this month is that homes are selling fast. In today’s strong seller’s market, bidding wars are common and expected with starter or entry-level homes. In most areas of the country, first-time buyers have been met with fierce competition throughout their home buying experience. Some have been out-bid multiple times before finally going into contract on a home to call their own. Right now, inventory is the big challenge. Here’s what we know today: According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), there is currently a 3.9-month supply of homes for sale, which can drive this kind of … (0 comments)
housing inventory: Buyers Are Looking For Your Home [INFOGRAPHIC]
- 11/29/19 08:42 AM
Some Highlights: Existing Home Sales are currently at an annual pace of 5.46 million. The inventory of existing homes for sale remains below the 6 months needed for a normal market and is now at a 3.9-month supply. Inventory remains low due to high demand from buyers who are still looking for a house to buy! We hope you found this post helpful. Contact us today for all your real estate needs. team@davidsonhomegroup.com Oh, by the way … if you know of someone who would appreciate the level of service we provide, please call us with their name and business number. We’ll be … (0 comments)
housing inventory: 7 Reasons to List Your House This Holiday Season
- 11/25/19 08:23 AM
Shutterstock Around this time each year, many homeowners decide to wait until after the holidays to list their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why listing your house now or keeping it on the market this winter may be the best choice you can make. Here are seven great reasons not to wait: Relocation buyers are out there now. Many companies are still hiring throughout the holidays, and they need their new employees to start as soon as possible. Purchasers who are looking for homes during the … (0 comments)
housing inventory: Buyers Are Looking Now. Are You Ready to List Your Home?
- 11/20/19 10:45 AM
Shutterstock Inventory on the market today is low, especially among existing homes in the entry and middle-level tiers of the market. It is hovering well below the 6-month supply typically found in a more normal market, as shown in the graph below: With inventory being one of the biggest housing market challenges today, finding a starter home right now isn’t easy. According to the Q3 Housing Trends Report from the National Association of Homebuilders (NAHB), 68% of those searching for a home think their search will get harder or stay about the same over the next 12 months. The same study reveals, “In Qtr3’19, buyers actively engaged in the process of buying … (0 comments)
housing inventory: Thinking of Selling Your Home? The Waiting Is The Hardest Part.
- 10/29/19 07:14 AM
Shutterstock Tom Petty famously penned the words, “the waiting is the hardest part” in his early 80’s hit song The Waiting, and his thought process can surprisingly also be applied to individuals considering selling their homes today. Traditional thinking would suggest it may be best to wait until the spring to sell when there is a flood of buyers in the market, but right now may in fact be an even better time to list your home. We can see the overall economy is good: wages are rising, there are near record-low unemployment rates, and mortgage interest rates are still very low too. Over the past 10+ years the … (0 comments)
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