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.
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