If you need assistance, please call 561-876-8135

Housing Market Slowing Down?

Wednesday, January 13, 2016   /   by Dan Malloy

Housing Market Slowing Down?

The housing crisis is finally in the rear view mirror as the real estate market moves down the road to a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2016 will be the year that the housing market again races forward.

 


However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout this winter, supply is not keeping up.


Here are the thoughts of a few industry experts on the subject:


Calculated Risk:



“Low inventory is probably holding down sales in many areas.”



Capital Economics:



“A lack of housing inventory continues to drive developments in the market. As demand has slowly recovered, low inventory levels have weighed on home sales.”



Frank Nothaft, Chief Economist for CoreLogic:



“Many markets have experienced a low inventory of homes for sale along with strong buyer demand... These conditions are likely to persist as we enter 2016.”



Doug Duncan,Chief Economist at Fannie Mae:



“Several factors point to constrained housing affordability in 2016, particularly for first-time home buyers, including slow single-family supply response and limited inventory of starter homes on the market.”



Lawrence Yun, Chief Economist at NAR:



“Sparse inventory and affordability issues continue to impede a large pool of buyers’ ability to buy, which is holding back sales.”



Bottom Line


If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price.

Malloy Home Team at Premier Brokers International
9123 N. Military Trail, Suite 104
Palm Beach Gardens, FL 33410
561-876-8135
561-370-5736

UP5DB701E1507748.jpg All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright ©2024 BeachesMLS, Inc.
The multiple listing information is provided by MIAMI Association of Realtors® from a copyrighted compilation of listings. The compilation of listings and each individual listingare ©2024 MIAMI Association of Realtors®. All Rights Reserved.
The information provided is for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
This site powered by CINC: www.cincpro.com