Tuesday, February 09, 2016
The most common questions that I am asked over the last month relate to the continued decline in the inventory of pre-owned houses on the market. While the last 30-days have seen an increase in supply, we still remain well below historic levels.
Natioanl experts have been weighing in on the lack of supply & the future of inventory in 2016:
“Low inventory is probably holding down sales in many areas.”
“A lack of housing inventory continues to drive developments in the market. As demand has slowly recovered, low inventory levels have weighed on home sales.”
Frank Nothaft, Chief Economist for CoreLogic:
“Many markets have experienced a low inventory of homes for sale along with strong buyer demand... These conditions are likely to persist as we enter 2016.”
Doug Duncan,Chief Economist at Fannie Mae:
“Several factors point to constrained housing affordability in 2016, particularly for first-time home buyers, including slow single-family supply response and limited inventory of starter homes on the market.”
Lawrence Yun, Chief Economist at NAR:
“Sparse inventory and affordability issues continue to impede a large pool of buyers’ ability to buy, which is holding back sales.”
While real estate is hyper-local, the national trends support what we have been seeing in our local market. Buyer demand continues to out-pace supply in many areas & at many prices.
- Christie Cannon - KW Frisco