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Supply of Stamford Homes for Sale Struggles to Keep Pace
So the market’s recovering, interest rates are low, and you think you’re finally ready to buy a home? Not so fast. Buyers across the country are running into a new roadblock: there don’t seem to be enough homes for sale.
Anyone who has looked at entry- to mid-level homes for sale in Stamford neighborhood probably knows what I mean. Mortgage rates remain near historic lows, and as the prices of homes for sale continue to rise, fears that we could soon see a repetition of a real estate equity loss seem increasingly unlikely.
Why the lack of inventory? There are several reasons. Buyers may be ready to buy again, but somesellers are still not in a position to offer their Stamford homes for sale. When the housing market collapsed seven years ago, some homeowners’ equity loss was such that they remain unable to sell. Prices may be on the rise, but some need more time to return to pre-crash values.
Buyers always want to buy at the bottom, but sellers want to avoid selling there. Buyers are watching that bottom fade into the distance, but some sellers, pleased to watch their homes growing in value, are content to wait longer. ... more
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