Darren Ahearn
Darren Ahearn
240-317-2722240-317-2722

The Impact of Tight Inventory on the Housing Market – KCM Article

The Impact of Tight Inventory on the Housing Market

The Impact of Tight Inventory on the Housing Market | MyKCM

The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

 

National Association of Realtors

“Total housing inventory at the end of November dropped 7.2 percent to 1.67 million existing homes available for sale, and is now 9.7 percent lower than a year ago (1.85 million) and has fallen year-over-year for 30 consecutive months. Unsold inventory is at a 3.4-month supply at the current sales pace, which is down from 4.0 months a year ago.”

Joseph Kirchner, Senior Economist for Realtor.com

“The increases in single-family permits and starts show that builders are planning and starting new construction projects, that’s a good thing because it will help to relieve the shortage of homes on the market.”

Sam Khater, Deputy Chief Economist at CoreLogic

Inventory is tighter than it appears. It’s much lower for entry-level buyers.”

Bottom Line 

If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price.

Leave a Reply

About Darren Ahearn

Picture of Darren Ahearn

Darren Ahearn

darrenahearn@gmail.com

7210 Corporate Court Suite B, Frederick, MD 21703

240-317-2722240-317-2722 main

240 344 1713240 344 1713 office

240 344 1713240 344 1713 mobile

RE/MAX Results

7210 Corporate Ct. Suite B Frederick, MD. 21703

It’s not about the home, It’s about serving you!

Community Events

Frederick Sahaja Meditation Weekly Meetup

Frederick Sahaja Meditation

Let us explore together the inner workings of our empowered self through inner energy meditation. There will be plenty of time for information gathering and discussion. The main emphasis, however, will be on the experience of exploring our inner...

Ballroom Dancing at Ayse Meze in Frederick

Fred Astaire Frederick Dance Events

7:00 First group lesson 7:45 Second group lesson 8:30 Social Dance Party The dancing is sponsored by Ayse Meze Lounge. Come early for great food and drinks!

Let’s Make A Scene

Frederick Writers Salon

Let’s get back to our groove of doing three critiques plus a discussion. For this meeting—time allowing—we’ll explore the function and structure of a scene. See you all there.