Home Buyer News

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

The inventory of existing homes shrunk to the lowest level in NAR’s records which date back to 1999. There were 1.65 million existing homes available for sale at the end of December, down 10.8.

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Continue reading Realtor.com 2018 National Housing Forecast . to-upper tier price points, which includes U.S. homes priced above $350,000.. segment as more available inventory in this.

Housing prices did drop during over 10 years by over 50% if you count inflation. Inflation at 4% from 1990-2000 with flat housing prices over the 10 years after a 20% housing price loss in 1991 actually makes Our Millennial correct. If housing prices drop 20-30% over 10 years while inflation grows at 4%, Our Millennial will see a 50-60% drop.

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The housing shortage that fueled competition and resulted in sky-high price gains throughout. there’s been a lackluster response to low mortgage rates, but if they do spark fresh buyer interest.

U.S. home sales fell more than expected in December as the supply of houses on the market dropped to a record low, pushing up prices and sidelining some potential first-time buyers.

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.

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.

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Overall, the U.S. housing market. “the crunch is still on in more affordable areas,” with many buyers still facing some competition, albeit “somewhat less” than they did a few months ago. In.

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Love Inventory Pushes Home Prices Higher According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase. dr. frank nothaft, Chief Economist for CoreLogic, gave insight into the reason behind.

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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