Sales Manager | NMLS #238831
Branch NMLS #1710023
Posted On April 20, 2017
A consistent theme amongst housing professionals this year and last has been “inventory shortage.” With demand outpacing supply, houses are selling faster and at higher prices than earlier in the decade.
According to the National Association of Realtors, from December 2016 to February 2017, less than four months’ supply of inventory was on the market. How will this inventory shortage impact this spring’s home-buying season?
Bloomberg analysts explained the impact of the inventory shortage in four charts. Here is the summary of their findings:
According to Freddie Mac, the tight inventory could put a strain on home-buying season. For-sale housing inventory has dropped to the lowest level in over a decade. Still, Freddie Mac predicts home sales will come in at 5.9 million in 2017, a slight decline from 2016’s 5.97 million.