Florida Home Loans News

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

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Pro Teck Shortage of Housing Inventory Leading to Much Higher Prices in Metro Areas across the Country. Decades of experience working with originators, servicers and capital markets clients.

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Home shoppers have almost 9 percent fewer homes to choose from than a year ago, and more than half of them are high-end homes. Home values across the U.S. rose 8 percent since last March, to a median of $213,146. U.S. median rent rose 2.7 percent over the past year, to $1,447.

The median forecast of 69 economists surveyed by Bloomberg News projected the U.S. confidence. the monthly jump in prices. “Sales have improved and the inventory of homes for sale has been falling,

More notably. in new homes remained at low level, keeping a cap on housing inventory. Limited supply along with lower mortgage rates will continue to provide support for home prices.

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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" There is now 20% less inventory than there was five years ago. Here is a chart showing the decrease in inventory levels by category: Bottom Line. Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2017, now may be the perfect time.

No. 4: More new homes will help. Construction of new homes also boosts for-sale inventory. Housing starts rose to a five-year high in 2013, providing fresh evidence of the housing recovery’s persistence, according to David Crowe, chief economist of the National Association of Home Builders, a trade group in Washington, D.C.