America Needs Your House

Dated: 09/07/2017

Views: 91

The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added):

Mark Fleming, First American’s Chief Economist

“The underlying fundamental issue is an overwhelming lack of supply… The supply of newly constructed homes is also sagging, adding to the supplychallenges. Over the last eight years, housing demand has increased by 5.9 million, but the net new number of housing units has only increased by 3.5 million.”

Svenja Gudell, Zillow’s Chief Economist

“Everyone has been talking about tight inventory but I think we are OK calling it a straight up inventory crisis at this point. We just don’t have enough homes.”

Sean Becketti, Freddie Mac’s Chief Economist

“House prices today are higher than they were at the peak in the summer of 2006, near-record-low mortgage rates have boosted housing demand, and sales volume is robust. The spoiler is the lean inventory of houses for sale.”

Lawrence Yun, National Association of Realtors’ Chief Economist

“Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines.”

Bottom Line

If you are considering selling your house soon, now may be the time to get it on the market. The lack of competition could lead to a faster sale at a higher price.

Latest Blog Posts

Home Value Appreciation Stops Falling Begins To Stabilize

Home Value Appreciation Stops Falling, Begins to StabilizeThe percentage of home price appreciation on a year-over-year basis has decreased each month for over a year. The question was how far

Read More

Thinking Of Selling Your House This Is The Perfect Time

Thinking of Selling Your House? This is a Perfect Time!It is common knowledge that a great number of homes sell during the spring buying season. For that reason, many homeowners hold off 

Read More

Do You Know How Much Your Home Has Increased In Value

Do You Know How Much Your Home Has Increased in Value?Last year we saw headlines about a possible housing market bubble, and many wondered if Americans still felt confident about the value of their

Read More

3 Things You Need In A Shifting Real Estate Market

3 Things You Need in a Shifting Real Estate MarketWhether you are thinking of selling your house or buying a home, today’s real estate headlines can be confusing – perhaps even concerning. What

Read More