Jan 9 2018 14025 1

Dated: 01/09/2018

Views: 31

 

The Impact of Tight Inventory on the Housing Market

The Impact of Tight Inventory on the Housing Market | MyKCM

The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

 

National Association of Realtors

“Total housing inventory at the end of November dropped 7.2 percent to 1.67 million existing homes available for sale, and is now 9.7 percent lower than a year ago (1.85 million) and has fallen year-over-year for 30 consecutive months. Unsold inventory is at a 3.4-month supply at the current sales pace, which is down from 4.0 months a year ago.”

Joseph Kirchner, Senior Economist for Realtor.com

“The increases in single-family permits and starts show that builders are planning and starting new construction projects, that’s a good thing because it will help to relieve the shortage of homes on the market.”

Sam Khater, Deputy Chief Economist at CoreLogic

Inventory is tighter than it appears. It’s much lower for entry-level buyers.”

Bottom Line 

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.


Blog author image

Richard Hewitt

I have been selling and buying real estate now for over 10 years. You can find me at my web site www.richardsoldit.com. I have a passion for helping people with their real estate needs! I want the....

Want to Advertise on this Site?

Latest Blog Posts

FIVE WAYS TO INCREASE THE VALUE OF YOUR BASEMENT

The basement is usually an afterthought in homes, especially if it’s not already finished when you move in. The lack of natural light compared to the ground floor and above doesn’t always make

Read More

Jan 11 2018 14025 1

 93% Believe Homeownership Is Important in Attaining the American DreamAmericans continue to believe that homeownership is important in achieving the American Dream. A recent survey &

Read More

Five Money Saving Green Upgrades

Going green is great for the environment, but that’s not the only benefit. When you make green upgrades in your home, it can also lead to some major savings. Solar panels: The upfront cost

Read More

Priority Tasks For Your Move In

Moving into a new home is an exciting time, and you’re probably daydreaming about decor and paint schemes and new furniture. But before you get into the fun stuff, there are some basics you should

Read More