Hope Is on the Horizon for Today’s Housing Shortage While we are seeing some improvement, we’re still at near-record lows for housing inventory (as shown in the graph below). Here’s why. Since the pandemic began, sellers have been cautious when it comes to putting their homes on the market. At the same time that fewer people are listing their homes, more and more people are trying to buy them thanks to today’s low mortgage rates. The influx of buyers aiming to capitalize on those rates are purchasing this limited supply of homes as quickly as they’re coming to market. Despite today’s low inventory, there is hope on the horizon. Regarding existing home sales, Sabrina Speianu, Senior Economic Research Analyst at realtor.com, explains, “In May, newly listed homes grew by 5.4% on a year-over-year basis compared to the earlier days of the COVID-19 pandemic last year…for buyers, it means that while they... #Bgroup #Prescott #Realtor #Homes #Smart

Hope Is on the Horizon for Today’s Housing Shortage While we are seeing some improvement, we’re still at near-record lows for housing inventory (as shown in the graph below). Here’s why. Since the pandemic began, sellers have been cautious when it comes to putting their homes on the market. At the same time that fewer people are listing their homes, more and more people are trying to buy them thanks to today’s low mortgage rates. The influx of buyers aiming to capitalize on those rates are purchasing this limited supply of homes as quickly as they’re coming to market. Despite today’s low inventory, there is hope on the horizon. Regarding existing home sales, Sabrina Speianu, Senior Economic Research Analyst at realtor.com, explains, “In May, newly listed homes grew by 5.4% on a year-over-year basis compared to the earlier days of the COVID-19 pandemic last year…for buyers, it means that while they... #Bgroup #Prescott #Realtor #Homes #Smart - 928-227-8575
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