Why are Housing Inventories so Low?
2013 Dec 29, 11:06pm 6,567 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.
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.
Thanks, we're committed to finding something before the summer. Inventory in our range is down to around 5 houses at the moment. I'm hoping it picks up a bit in the new year.
Make sure you talk to all Bulls because they are concerned about your finances & can tell you how much to overpay.
New Renter
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2013 Dec 30, 10:26am
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.
Thanks, we're committed to finding something before the summer. Inventory in our range is down to around 5 houses at the moment. I'm hoping it picks up a bit in the new year.
Well looking at Redfin there are several vacant lots around ripe for building your dream home on:
This one is $140k for 0.30 acres and has some very good schools. It has been listed for a very long time - sellers may be willing to negotiate a bit:
http://www.redfin.com/CA/Glendale/0-BAYBERRY-Dr-91208/home/17491383
As for existing housing this place doesn't look so bad:
http://www.redfin.com/CA/Altadena/3587-Glenrose-Ave-91001/home/7253624
Nice, VERY private lot and room to add on later as your needs change.
Comments 1 - 6 of 12 Next » Last » Search these comments
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