Actually, Uncle Sam wants your house. There is a severe shortage of available homes on the real estate market. Here is what four industry experts are saying:
Housing demand has increased, and 5.9 million housing units have been needed over the past eight years. But only 3.5 million new homes have been built.
Another expert said we are not in a tight inventory situation, we have an inventory crisis at this point. There are simply not enough homes.
Someone else said that home prices are higher than they were at the market peak in 2006. We also have near record low interest rates, which have boosted the demand. Sales volume is continuing to be strong. The bad news is the scarcity of houses for sale.
And the last states that homes in the affordable price range continue to sell quickly. But the lack of available inventory is keeping many would be buyers on the sidelines.
So what does all this mean?
If you’re considering selling your home, now is a great time. It should sell quickly for a great price.
But stop and think of this – you’ll also need to find a new home. And the factors that will be in your favor when you sell your home will be against you when you look for a home to purchase.
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