Inventory of houses for sale in the US had a positive week this past week, as more than 8,000 new homes appeared on the housing market. This was a welcomed increase after months of declining housing supplies, however, experts in the mortgage industry warn that the current level of inventory is still too low to meet consumer demands, and advise potential buyers to act quickly to capitalize on the situation.
The major contributing factor to the housing inventory shortage is the lack of available houses put up for sale. Despite the recent growth in inventory, this is simply not enough to meet consumer wants and needs as the numbers are far below the respective figures of past years. Consequently, the amount of homes ready for sale is at its lowest rate since tracking began in 1999, with more buyers desperately searching for homes than there are available.
Key Points:
• Inventory of houses for sale in the US improved with an additional 8,000 homes
• This recent growth in inventory is not enough to meet consumer demands
• Inventory is at its lowest rate since tracking began in 1999
• More buyers desperately searching for homes than there are available
You can read this full article at: https://www.housingwire.com/articles/housing-market-tracker-a-good-week-for-inventory/(subscription required)
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