Low U.S. Housing Inventory Results in More Competition, Higher Prices, Older Homes

Mortgage rates hovered around 4% for all of 2017 which forced many buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW! Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level.

A six-month inventory is considered balanced. More: It’s not just you – there really are fewer homes for sale with inventory at a 20-year low More: analysis: economist warns that housing markets.

The S&P/Case-Shiller U.S. National Home Price NSA Index, reported a 5.8% annual gain in March, up from 5.7% last month and setting a 33-month high. The index’s closely watched 20-city index climbed 5.9% in March from the same period a year ago, as tighter housing inventory stoked soaring prices.

The housing inventory declined by 1.5 percent over the past year, contributing to the low vacancy rate while also driving up prices and limiting home sales. More than half of the housing stock in the Springfield HMA was built before 1940, and more than 70 percent was built before 1960, when the area’s population reached its peak.

Competition High, Inventory Low Across U.S. In San Jose, California, 74.1% of homes sold above asking, with 70.9% in Oakland, 70.1% in San Francisco, 64.1% in Seattle, and 51.8% in Tacoma, Washington. Seattle also had the country’s largest growth in price, which rose 15.9% since last year to $510,000.

In India, private sector players, which include developers and housing finance companies, tended to primarily target housing for the HIG (higher income group), resulting in sustained supply and.

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Inventory for home buyers across US at 20-year low. This January, it was 19 percent, according to Trulia. As prices have risen in response, so have the financial obstacles to homeownership. The median sales price has surged 7.7 percent from a year ago to $228,400, more than double the pace of average pay gains.

4 Biggest Reasons housing inventory levels Are So Low.. they won’t be able to purchase the $500K home in Boston for the same price because the prices have gone up for all homes, not just the one they own.. Another factor contributing to the low inventory of homes is the decrease in.

Low housing inventory, high prices make it harder to buy Condo and luxury real estate inventory still strong thanks to new developments in major metros by Britt Chester Staff Writer

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