The first two revelations centered around the shortage of housing inventory currently available in both existing homes and new construction.
REGARDING EXISTING HOME INVENTORY:
“For the fourth year in a row, the inventory of homes for sale across the US not only failed to recover, but dropped yet again. At the end of 2016 there were historically low 1.65 million homes for sale nationwide, which at the current sales rate was just 3.6 months of supply – almost half of the 6.0 months level that is considered a balanced market.”
REGARDING NEW HOME INVENTORY:
“Markets nationwide are still feeling the effects of the deep and extended decline in housing construction. Over the past 10 years, just 9 million new housing units were completed and added to the housing stock. This was the lowest 10-year period on records dating back to the 1970s, and far below the 14 and 15 million units averaged over the 1980s and 1990s.”
The biggest challenge in today’s market is getting current homeowners and builders to realize the opportunity they have to maximize profit by selling and/or building NOW!!
Start your home search today! Give me a call 214-631-9411
Author:Robin ONeal Phone: 214-245-9068 Dated: July 11th 2017 Views: 63 About Robin: ...
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Scottie Smith, a native of Houston,Texas, has an extensive background in real estate. Mr. Smith specializes in sales,investments, property analysis and valuation of multifamily and single family properties in Texas. He has been recognized nationally as an exceptional leader in real estate and locally by the City of Denton Mayor, And the Dallas Chamber of Commerce as a leader in providing housing for the public. Mr. Smith’s passion for real estate as well as his drive to create the perfect real estate transaction is what drives his success. Because of this, Mr. Smith was awarded one of the Top Honors by the National Association of Realtor as one of the Top 30 young Real Estate Brokers Under 30.
Scottie Smith holds a B.B.A in finance from the University of North Texas and a M.S in accounting from the University of Notre Dame. While attending the University of North Texas, Scottie completed his first real estate transaction at the age of only 19.