Existing Home Sales Report..What if We Had Inventory?

By
Mortgage and Lending with Primary Residential Mortgage Inc. NMLS 3094 NMLS # 260747
https://activerain.com/droplet/4N9m

The Existing Home Sales report that came out last Friday, showed an increase over the previous month. Some think this is becuase of TRID delay in the closing of transactions. I wonder that that report would be if every buyer i have in my database could actually find a home and buy it? 

Becauase of the lack of inventory and the price appreciaion, i have propsect that will never convert to a homebuyer! Prices are now getting out of the range of many home buyers who have been actively seeking to find something for months. What is the solution? More new housing would help! In #Ukiah, California which is in #Mendocino County, there is nothing being built but a few infill projects. We need more housing at a price point people can afford! Do i expect a solution? Not Really! In the interim i will have to continue to tell people that they cannot afford to buy a home in their town they live and work and raise their children in. A pretty sad reality!

Posted by

Rick Costa

rcosta@bayeq.com

707-981-7349

www.rickcostamortgage.com

@rickcostamortg

 

 

NMLS # 260747 Representing Bay Equity Home Loans NMLS # 76988

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Rick Costa

FHA/VA/USDA expert
Doing the hard to get done loan!
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