Will This Economic Crisis Have a V, U, or L-Shaped Recovery?Many American businesses have been put on hold as the country deals with the worst pandemic in over one hundred years. As the states are
What Does Inveentory Have To Do With Housing Prices
Dated: May 13 2019
A Lack of Inventory Continues to Impact the Housing Market
The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up and distressed sales (foreclosures and short sales) have fallen to their lowest point in years. The market will continue to strengthen in 2019.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory! Buyer demand naturally increases during the summer months, but supply has not kept up.
Here are the thoughts of a few industry experts on the subject:
“Further increases in inventory are highly desirable to keep home prices in check, the sustained steady gains in home sales can occur when home price appreciation grows at roughly the same pace as wage growth.”
“There’s a supply-demand mismatch… More inventory is needed at the lower end and a price reduction may be needed at the upper end.”
“Heading into spring, U.S. prices are expected to continue to rise and inventory is expected to continue to increase, but at a slower pace than we’ve seen the last few months as fewer sellers want to contend with this year’s more challenging conditions… A buyer’s experience will vary notably depending on the market and price point they’re targeting.”
If you are thinking of selling, now may be the time! Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price!
The Steamboat Luxury Team -Vicki Jackson and Mike Shuttleworth Vicki Jackson has been a Realtor for 11 + years and comes from a long line of Realtors. She has specialized in luxury resort and ranc....