Experts weigh in on low inventory
The most common questions that I am asked over the last month relate to the continued decline in the inventory of pre-owned houses on the market. While the last 30-days have seen an increase in supply, we still remain well below historic levels.
Natioanl experts have been weighing in on the lack of supply & the future of inventory in 2016:
Calculated Risk:
“Low inventory is probably holding down sales in many areas.”
Capital Economics:
“A lack of housing inventory continues to drive developments in the market. As demand has slowly recovered, low inventory levels have weighed on home sales.”
Frank Nothaft, Chief Economist for CoreLogic:
“Many markets have experienced a low inventory of homes for sale along with strong buyer demand... These conditions are likely to persist as we enter 2016.”
Doug Duncan,Chief Economist at Fannie Mae:
“Several factors point to constrained housing affordability in 2016, particularly for first-time home buyers, including slow single-family supply response and limited inventory of starter homes on the market.”
Lawrence Yun, Chief Economist at NAR:
“Sparse inventory and affordability issues continue to impede a large pool of buyers’ ability to buy, which is holding back sales.”
While real estate is hyper-local, the national trends support what we have been seeing in our local market. Buyer demand continues to out-pace supply in many areas & at many prices.
- Christie Cannon - KW Frisco
