June 2021 RSS Feed

Found 1 blog entry for June 2021.

LOW SUPPLY is the #1 reason the market is NOT going to crash anytime soon.

Like many areas of the economy, home prices typically move in relation to the dynamic between supply vs. demand.  As I write this in June 2021, home inventory is at record lows, but home sales are still closing in record numbers, leaving many buyers fighting for each home.  The number of homes on the market now is at just 35% of the 5 year average, while demand is up almost 8%. (source:  Reports on Housing).   I'm witnessing buyers offering 5-15% above list price in some areas to try to secure their home, often waiving key buyer contingencies like inspection and appraisal.  Market absorption is at record highs, with very few few homes left sitting on the market.  Low interest…

540 Views, 0 Comments