spacer

Home Inventory Still Continues To Be A Problem Nationwide


In any given market, inventories fluctuate based on supply and demand considering area and price range. The National Association of REALTORS considers a balanced market to be a six-month supply of homes.

If it takes longer than six months to sell, it is thought to be a buyer's market and less than six months, a seller's market. Most buyers and sellers probably feel a balanced inventory is more like three months' supply of homes.

The inventory of existing homes has been reduced to approximately 1.5 million houses which is 10.3% lower than a year ago. According to the Federal Reserve Bank of St. Louis there are 5.7 months' supply of new homes currently on the market in the U.S.

Inventory has a direct impact on price. When demand is constant, but inventory is reduced, price tends to increase because the same number of people are trying to buy a smaller than normal number of homes.

As easy as it is to recognize the signs of spring, one should be able to spot the direction prices will be moving. When prices and mortgage rates are increasing, buyers are affected by not being able to afford the same price or size of homes.

Search For Homes In The Houston TX Area

To search for homes in the Houston Texas area contact me today by calling (713) 819-1642 or click here to connect with me online. 


If you enjoyed this post, please consider sharing it with others.


Post Category: Home Buying, Home Selling, General

Go to Kimberly Buish Blog Contact Kimberly Buish

Join the discussion

To post a comment on this blog post, you must be an HAR Account subscriber, or a member of HAR. If you are an HAR Account subscriber or a member of HAR, please click here to login. If you would like to create an HAR Account account, please click here.

Login to Comment
Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
Advertisement

View Q&A Posts in Home Buying, Home Selling, General

Advertisement

Blog Archive

  • Archive
    •     2018
    •     2017
    •     2016
    •     2015
    •     2012
    •     2011
Advertisement