Low U.S. Housing Inventory Results in More Competition, Higher Prices, Older Homes

Housing Inventory for 2018. As low inventory is now starting to reverse, the report says they’re expecting a significant amount of increase in home sales for 2018. The numbers are showing that 2018 is leaning towards a positive territory and everyone is definitely hopeful.

Home shoppers have almost 9 percent fewer homes to choose from than a year ago, and more than half of them are high-end homes. Home values across the U.S. rose 8 percent since last March, to a median of $213,146. U.S. median rent rose 2.7 percent over the past year, to $1,447.

Low inventory, lack of access to affordable homes, and increased buyer competition are starting to wear on homeowners and renters, making them less optimistic about the housing market. a sample of.

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 · Harvard Research: The Future Of Home Prices In 2019.. Inventory Shortage Pushing Home Prices Up.. Builders are completing more homes at the higher end, leaving a pronounced shortage at the.

" There is now 20% less inventory than there was five years ago. Here is a chart showing the decrease in inventory levels by category: bottom line. demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2017, now may be the perfect time.

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Existing Home Inventory Hits Record Low. The December 2016 sales were 1.5 percent higher than those in December 2015, a 4.81 million pace. Existing condominium and co-op sales dropped 10.3 percent to a seasonally adjusted annual rate of 610,000 units, and are now 4.7 percent below the previous year.

The S&P/Case-Shiller U.S. National Home Price NSA Index, reported a 5.8% annual gain in March, up from 5.7% last month and setting a 33-month high. The index’s closely watched 20-city index climbed 5.9% in March from the same period a year ago, as tighter housing inventory stoked soaring prices.

“Competition. U.S. homes fell 6.8 percent to a 482,000 annualized pace in June — the weakest since November, Commerce Department figures showed last week. Such mixed signals have been typical of.

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In fact, for-sale housing inventory, especially for starter homes, currently rests at its lowest level in more than ten years, according to the report.

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