In the News – ‘Low Inventory’ Defined 2016 Housing

In the News – ‘Low Inventory’ Defined 2016 Housing

If there’s a compact way to sum up the 2016 housing market, it would be the words “low inventory.” In a year’s-end look at the U.S. housing market, Trulia found that no other issue dictated the course and nature of market as much as a lack of places to buy.

At its most basic, low inventory yields high competition, and, therefore, escalating prices. And prices are indeed escalating. Just last week, the September S&P CoreLogic Case-Shiller Home Price Indices reported that home prices had increased over-the-year for 53 months in a row and had clawed their way back up to within 20 percent below pre-recession peaks when accounting for inflation.

Trulia found that over the course of 2016, lower-priced, or starter homes, saw the biggest decrease in inventory across all markets, nearly 11 percent down from 2015. Trade-up homes dropped by 9.2 percent, while inventory among upper-end homes dropped 3.6 percent. Matt Vos, a real estate agent in Denver, said his city was a prime example of the division between less-expensive and more-expensive properties.

Get the information straight from the source Builder and Developer

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s