Why is housing inventory so tight right now?

What’s going on with the housing market? Basic market forces are at work!

Inventory has fallen as many of those who wanted or needed to sell have done so. Some new listings are coming on the market, yet many would-be sellers are waiting, as prices are once again on the rise.

New and confident buyers are actively seeking homes. In many areas, they’re bidding up prices in order to get what they want.

  • Move up buyers – people who bought 3-7 years ago and have now outgrown their starter home.
  • Empty nesters – the kids have left the house and it’s time to start the next chapter, maybe a nice bungalow with a view of the water?  A condo that offers close amenities and the freedom of no yard work?  Now that it’s just the two of you again you can focus on what you want!
  • First time home buyers – the wait is over, the market is back!
  • Investors – still trying to grab what could be the last of low investment property rates.

Where do you fit in today’s market?

2014-02-03T18:52:59+00:00 Categories: Home Loans, Mortgage|