Are There Not Enough Houses in the Housing Market?

The housing market is finally on the road to recovery.

Home values have started to go up.

There is now an increase in home sales, and lower foreclosures and short sales.

The market looks optimistic and is predicted to get better in 2018.

Tight Inventory

There is an increased demand for housing, but not enough housing inventory.

There are only 1.67 million existing homes available for sale by the end of November, according to the National Association of Realtors.

Not All Homes

The tight inventory can be felt more by entry-level buyers.

First-time buyers are having a hard time looking for a first home that would fit their budget.

Families that are looking to downsize cannot find smaller, cheaper homes than their current ones.

New Developments

There has been an increase in permits for construction of new homes.

These include single-family abodes, condominiums, and apartments.

The number of housing starts, or construction of new housing that began but have not been completed, also increased.

With this trend, the shortage of homes may just end soon enough.

In Conclusion

If you are planning to put your home up for sale, now is the best time to do so.

At Burgess Group Realty LLC, we make sure our clients get the best deal for the sale of their home.

Let’s talk about how we can help you make the most of the housing market today!

Call Catherine now at 303.506.5669.

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