Home Price Appreciation Is as Simple as Supply and Demand Home price appreciation continues to accelerate. Today, prices are driven by the simple concept of supply and demand. Pricing of any item is determined by how many items are available compared to how many people want to buy that item. As a result, the strong year-over-year home price appreciation is simple to explain. The demand for housing is up while the supply of homes for sale hovers at historic lows. The reason prices continue to accelerate is that housing inventory is still at all-time lows while demand remains high. However, this may be changing. 39 of the 50 states (plus the District of Columbia) saw increases in inventory over the last month. This may be evidence that homeowners who have been afraid to let buyers in their homes during the pandemic are now putting their houses on the market. We’ll know for certain as we move through the rest of the... #Bgroup #Prescott #Realtor #Homes #Smart

Home Price Appreciation Is as Simple as Supply and Demand Home price appreciation continues to accelerate. Today, prices are driven by the simple concept of supply and demand. Pricing of any item is determined by how many items are available compared to how many people want to buy that item. As a result, the strong year-over-year home price appreciation is simple to explain. The demand for housing is up while the supply of homes for sale hovers at historic lows. The reason prices continue to accelerate is that housing inventory is still at all-time lows while demand remains high. However, this may be changing. 39 of the 50 states (plus the District of Columbia) saw increases in inventory over the last month. This may be evidence that homeowners who have been afraid to let buyers in their homes during the pandemic are now putting their houses on the market. We’ll know for certain as we move through the rest of the... #Bgroup #Prescott #Realtor #Homes #Smart - 928-227-8575
https://bit.ly/3pDvbTb