The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added):
“The underlying fundamental issue is an overwhelming lack of supply… The supply of newly constructed homes is also sagging, adding to the supplychallenges. Over the last eight years, housing demand has increased by 5.9 million, but the net new number of housing units has only increased by 3.5 million.”
“House prices today are higher than they were at the peak in the summer of 2006, near-record-low mortgage rates have boosted housing demand, and sales volume is robust. The spoiler is the lean inventory of houses for sale.”
“Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines.”
If you are considering selling your house soon, now may be the time to get it on the market. The lack of competition could lead to a faster sale at a higher price. Find out what your Connecticut home is worth http://bit.ly/2rAckwg
Author:Kris Morin Phone: 860-982-0187 Dated: September 7th 2017 Views: 22 About Kris: ...
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"I would like to thank Kris Morin and her mother Rosemary Hunt Economou
for their superior assistance in selling my condo. They were both highly knowledgeable, professional, friendly, and attentive to my needs. They went the "extra mile" to help me in every way possible. To my amazement, my condo sold just a few days after I listed it with them. I am extremely happy that I chose both of them as my realtors. It was truly a marvelous experience! I would strongly recommend them to any one needing to sell or buy a home. Kris and Rosemary, from the bottom of my heart, many, many thanks, again! "