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Housing Inventory Challenges Causing Home Sales To Slow | Kris and Kimberly Darney

Kris and Kim's Blog

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Housing Inventory Challenges Causing Home Sales To Slow

Housing Inventory Challenges Causing Home Sales To Slow

 

Housing Inventory Challenges Causing Home Sales To Slow

Some Highlights:

  • After a surge in March, existing home sales and new home sales slowed due to a drop in inventory available for sale in the start-up and trade-up categories.
  • Median existing home prices surged for the 62nd straight month, up 6.0% over last year to $244,800.
  • New home prices slowed as builders have started to turn their focus toward single family, smaller homes.

In conclusion:

We need more homes to sell. Home prices are increasing due to lack of inventory. If you want to sell in the future, rethink your approach. Builders inventory will be increasing as new, less pricy, smaller homes are being built. Call us today and we can discuss the right price to get your home sold fast. Don’t miss out on this opportunity.

Kris and Kim Darney – REALTORS® – Grandparents – 714.657.6634 – CA BRE# 01930954; 01464957; 01458057

[afview limit=10 title=”Affinitomic Relationships:”]

712,000 US Homes Moved Into Positive Equity in 2017

The average homeowner gained approximately $14,900 in equity during the past year. Compared to Q3 2016, negative equity decreased 22% from 3.2 million homes, or 6.3% of all mortgaged properties. U.S. homeowners with mortgages (roughly 63% of all homeowners) have seen their equity increase by a total of $870.6 billion since Q3 2016, an increase of 11.8%, year-over-year.

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