The forces keeping inventory down are a bit more nuanced, but no less logical. In the simplest sense, high demand itself isn’t helping the market build up an inventory cushion of homes for sale – in many markets, homes are scooped up seemingly as soon as they’re listed. A second driver of low inventory has been anemic new construction.
"Nationally, housing inventory dropped to its lowest level on record in 2017 Q1. The number of homes on the market dropped for the eighth consecutive quarter, falling 5.1% over the past year." Freddie Mac "Tight housing inventory has been an important feature of the housing market at least since 2016.
UPDATE: The 2019 National housing forecast inventory constraints that have fueled a sharp rise in home prices and made it difficult for buyers to gain a foothold in the market will begin to ease.
Buyer’s markets Buyer’s markets exist when there is more inventory, meaning houses for sale, than buyers. Because buyers have many homes to choose from, not every home for sale will sell. Most experts agree that if six months or more of inventory is on the market, it is a buyer’s market.
But if you dig a little deeper, Mr. Shipside said, it becomes apparent that the main driver of sales is strong buyer demand in the "comparatively stock-starved northern half of Britain’s housing..
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housing slowdown was still intensifying in Q4, it is uncertain how soon the market will stabilize and recover. With the breadth and depth of home price changes, state-level sales to first-time homebuyer activities will inform potential buyers of a turnaround in the housing market and boost buyer confidence.
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ENGLEWOOD, CO. – May 10, 2019 – The much-anticipated influx of new spring season listings in Colorado’s housing market has had a limited impact for buyers as strong sales and continued low inventory have driven median and average pricing to record levels in the seven-county Denver metro area, as well as markets across the state.
Buyer demand continues to grow despite a lack of affordable housing in today’s market. Bank of America becomes the latest bank to go digital with the launch of its new digital mortgage platform. Plus, check out an interesting article on the intersection of man and machine within the appraisal industry.