Housing inventory levels and new listing data declined again last week, creating concerns for future growth as we approach the start of fall. With fewer homes on the market, buyers may struggle to find the home they want in their desired location.
The current housing landscape presents a variety of challenges for potential buyers. Despite low mortgage rates and increasing consumer confidence, both homes placed on the market and those being sold are decreasing. This lack of inventory is quickly becoming the key constraint for the real estate market, and the number of new listings is increasingly unlikely to meet demand.
The most important elements of this article:
• Inventory and listings declined again – fewer homes on the market
• Low mortgage rates and increasing consumer confidence – potential for more buyers
• Lack of inventory becoming a constraint – number of new listings unlikely to keep up with demand
You can read this full article at: https://www.housingwire.com/articles/what-happened-to-the-summer-housing-market/(subscription required)
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