Housing market inventory continues to build despite buyers returning, according to real estate expert Mike Simonsen. For buyers, more options mean better chances for finding the perfect home that meets all their requirements.
For sellers, however, an increasing inventory means less competition and slightly slower appreciation in home prices. Simonsen explains that with new home construction, existing homes, jobs, and population growth increasing, supply and demand are both rising. Therefore, home prices will remain stable instead of crashing as some have feared.
The key points of this weekly data recap included:
• Housing market inventory continues to build: More choices available for buyers and less competition for sellers.
• Population, job, and home construction growth: Supply and demand are both rising, leading to stabilized home prices.
• Home prices won’t crash anytime soon: This is contrary to the fears of some as to what would happen in light of current market conditions.
You can read this full article at: https://www.housingwire.com/articles/inventory-home-prices-altos-research-oct2/(subscription required)
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