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 supply challenges. 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.”
“Everyone has been talking about tight inventory but I think we are OK calling it a straight up inventory crisis at this point. We just don’t have enough homes.”
“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. We have buyers in our database looking in all cities in Southwest Riverside County. If you are considering selling give us a call 951-216-3008 for a no obligation seller consultation.
Selling a home
Here are some reports on systems that we use to help a homeowner get up to 18% more when they sell with us:
or go to http://wesellhomesformore.com/ for more information on our selling process and why we sell for more.
Curious about what your home is worth goto http://www.socalhomevaluenow.com/ and find out instantly. This will give you a rough estimate on what your home is worth. For an accurate home value contact me directly for a free home value assessment.
Text Sell to 951-395-8057 and learn more about why you should sell your home with Team Olsewski.
Buying a home
If you are looking to buy a home whether its your 1st or 20th its important to choose the right agent. This decision could cost your thousands of dollars! Go to www.why-buy-with-us.com and see how we can help you!