A Look At Housing Supply And What It Means For Sellers

A Look At Housing Supply And What It Means For Sellers

https://bit.ly/37348YX

While it may be tempting to blame the pandemic for the current inventory shortage, the pandemic can’t take all the credit. While it did make some sellers hold off on listing their houses over the past year, the truth is the low supply of homes was years in the making. Let’s take a look at the root cause and what the future holds to uncover why now is still a great time to sell.
Where Did the Shortage Come From?
It’s not just today’s high buyer demand. Our low supply goes hand-in-hand with the number of new homes built over the past decades. According to Sam Khater, VP and Chief Economist at Freddie Mac:
“The main driver of the housing shortfall has been the long-term decline in the construction of single-family homes.”
A NAR report elaborates on the impact of this below-average pace of construction:
“Looking...
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Phone: 206-548-6529
Dated: July 27th 2021
Views: 7
About Adeel: As a Real Estate professional and lifelong Washington resident, I understand the unique needs of fir...

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