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Why are Housing Inventories so Low?
2013 Dec 29, 11:06pm 6,558 views 12 comments
by nw888 follow (0)
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Strategist
@
2013 Dec 30, 7:04am
Very interesting.
This article points out why housing prices will continue to increase, homeowners still underwater will not sell prices increase.
I would also add that future inventory will come from home builders.
I agree. I wish I had bought in 2011 or even 2012. I'm afraid this is going to be as good as it ever gets.
Strategist
@
2013 Dec 30, 7:22am
I agree. I wish I had bought in 2011 or even 2012. I'm afraid this is going to be as good as it ever gets.
Don't cry over spilt milk, it will only give you ulcers. Actively find your home before the buying season begins, and lock in the rate.
Most important, don't let the perma bears talk you out of it. They are usually wrong.
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Interesting article about the effect of rising prices on inventories. Maybe inventories will rise if people feel that prices are topping out?
From the article's conclustion:
History shows a long-run relationship between house prices and the number of houses available for sale. Thus, current inventories of homes for sale are low given more than a year of house price appreciation. County-level data suggest that many homeowners are waiting for prices to rise further in their markets. Markets that have seen the strongest house price appreciation and job growth are the ones where for-sale inventories have declined the most.
http://www.frbsf.org/economic-research/publications/economic-letter/2013/october/low-housing-inventory-factors/
#housing