Home inventory levels have been rising recently and current indications point to this trend continuing. The latest data from July shows 495,000 single-family homes across the United States remain unsold.
This trend stands to impact the mortgage industry. Homebuyers need financing to purchase homes. With more homes on the market, mortgage demand could see an uptick. It won’t necessarily be steady growth though as other factors within the industry and the broader economy could affect demand and thus mortgage activity.
Critical Elements:
• Home inventory levels rising
• July data shows 495,000 single-family homes unsold
• Higher inventory could lead to higher mortgage demand
• Other industry and economic factors will influence mortgage activity
You can read this full article at: https://www.housingwire.com/articles/housing-inventory-is-at-its-highest-point-all-year/(subscription required)
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