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The Impact of Tight Inventory on the Housing Market
January 16, 2018

The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.

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 the winter, supply is not keeping up.

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


National Association of Realtors

“Total housing inventory at the end of November dropped 7.2 percent to 1.67 million existing homes available for sale, and is now 9.7 percent lower than a year ago (1.85 million) and has fallen year-over-year for 30 consecutive months. Unsold inventory is at a 3.4-month supply at the current sales pace, which is down from 4.0 months a year ago.”

Joseph Kirchner, Senior Economist for Realtor.com

“The increases in single-family permits and starts show that builders are planning and starting new construction projects, that’s a good thing because it will help to relieve the shortage of homes on the market.”

Sam Khater, Deputy Chief Economist at CoreLogic

Inventory is tighter than it appears. It’s much lower for entry-level buyers.”

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.

SOURCE: Keeping Current Matter

I take pride in building my business through referrals and trust.  If you know a family who’s looking to be served by a competent Realtor with excellence, integrity and results, do call me at 707-567-1049.

With gratitude,

About the Author:

Kasama Lee is a top-producing Realtor® and a community contributor specializing in the Napa and Solano Counties.

Kasama and her husband, Barton, are raising their two boys in American Canyon and have been

residents since 2002.  They’re proud to contribute and give back as residents of this warm, friendly and supportive community.

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