Low U.S. Housing Inventory Results in More Competition, Higher Prices, Older Homes

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“Housing has picked up,” said Ryan Wang, an economist at HSBC Securities USA Inc. in New York, who correctly forecast the monthly jump in prices. “Sales have improved and the inventory of homes for.

 · Why the supply of homes for sale is the lowest since 1999. The number of for-sale listings fell again in December to the lowest level since 1999, according to the National Association of Realtors. There were just 1.65 million homes for sale at the end of December, which at the current sales pace would take only about 3 ½ months to exhaust. A normal, balanced market has about a.

Fueled by job growth, pay raises and still-low loan rates – and perhaps fearful of being left out as more homes are snapped up and prices rise further – many people are looking to buy.

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Richmond-area home sales and prices continue to rise in first quarter of 2018. There were 3,153 homes listed for sale at the end of the first quarter, 16 percent fewer than the same time last year, or a drop of nearly 600 listings in the region. “The historically low inventory that continues to drop has been a decade in length,” said Laura Lafayette,

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"The market for new homes is shifting. Builders are readjusting their pricing to be more competitive, both in low. higher than they were in 2012. Home prices in the area more than doubled from 2012.

Dohse foresees a “status quo” housing market this year of continued low inventory. noted that more and more buyers are moving to Omaha from bigger, more expensive cities, contributing to homes.

Rising home prices. housing market. “The biggest hurdle is the fact that there aren’t enough homes,” National Association of Realtors’ chief economist Lawrence Yun told Yahoo Finance. “Hopefully as.

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In fact, for-sale housing inventory, especially for starter homes, currently rests at its lowest level in more than ten years, according to the report.

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