America Needs Your House

Dated: 09/07/2017

Views: 90

America Needs Your House!! | MyKCM

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 supply challenges. 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.

David Nelson

2016 Associate of the Year - RE/MAX Advantage Plus 2016 Platinum Award winner - Individual 2016 Titan Award - Imperial Home Team Twin Cities Real Estate Agent of the Month - December 2016 Member o....

Want to Advertise on this Site?

Latest Blog Posts

5 Reasons To Hire A Real Estate Pro When Buying Or Selling

Whether you are buying or selling a home, it can be quite an adventurous journey. This is why you need an experienced real estate professional to guide you on the path to your ultimate.

Read More

Giving Back To The World

The Imperial Home Team Helps Fight World HungerAs you already know we're not your average run-of-the-mill Real Estate agents. We not only care about, but support our local communities and small

Read More

Hiring An Agent To Sell Your House May Cost You NOTHING

There is no doubt that it is easier to sell your house when using the services of a local real estate professional. The agent will provide: Greater exposure to more buyers The skills of a

Read More

Moving Up To A Luxury Home Now IS The Time

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study 

Read More