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

In fact, for-sale housing inventory, especially for starter homes, currently rests at its lowest level in more than ten years, according to the report.

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As the housing market heats up and prices rise once again, existing home sales remain stuck at relatively low levels. The National Association of Realtors reports that some 4.5 million homes were sold in June 2013 at a seasonally adjusted annualized rate, roughly the same as at the end of the 1990s.

The housing market has been hot before, but several factors, including rising home prices, high demand, low inventory, and the rising cost of building new homes have conspired to make now an.

Everyone agrees the U.S. housing market is being squeezed by low inventory. What they don’t agree on is why. As home inventory sits near post-recession lows, there are many hypotheses on why there are so few homes for sale today. Here are the five leading theories: (1) investors bought up too many foreclosures during the [.]

“We’re particularly interested in supporting legislation that makes for a more open and competitive marketplace,” Hill said. With U.S. inventory,” Hill said. “A lot of people are having to move.

More U.S. households. “For many older Americans, renting a room provides an economic boost that may help them stay in a home longer. Prices are high, inventory is low, and new housing growth is.

Higher prices might even be drawing some people into the market who otherwise might have waited. Yet the low stock of new homes might also have ratcheted up competition. on the U.S. market was.

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.

Housing Inventory for 2018. As low inventory is now starting to reverse, the report says they’re expecting a significant amount of increase in home sales for 2018. The numbers are showing that 2018 is leaning towards a positive territory and everyone is definitely hopeful.

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