Low inventory in the housing market appears to be an issue across the country, but buyer demand has remained steady or grown in many districts. According to the latest Beige Book from the Federal Reserve, this is a trend being seen all across the country and suggests a strong market.
In the areas with the lowest inventory, there has been the greatest surge in buyer demand. Some districts have also seen an increase in mortgage applications due to low interest rates, though they differ by region. In addition, there has been an uptick in home-price growth as buyers compete for the available homes.
The most important elements of the text include:
• Low inventory in housing market across the country
• Buyer demand has remained steady or increased
• Surge in buyer demand where inventory is lowest
• Increase in mortgage applications due to low interest rates
• Uptick of home-price growth as buyers compete for available homes
You can read this full article at: https://www.housingwire.com/articles/residential-real-estate-activity-picks-up-despite-low-inventory/(subscription required)
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