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What Forces Are Driving the Housing Market?

Money Matters

      

Community Partner Logo 20 Years 150x150Brought to you by: Community Partner Vision Financial Group 

Many hopeful homebuyers are having issues securing a home. Recently, you may have seen reports that a record-low number of homes are available for sale- roughly 1.03 million nationwide. If you compare that to the average number of homes for sale during the past 10 years, it’s no surprise that many hopeful homebuyers are having issues securing a home. Why?

1. Lack of inventory. There are a few major differences between 2007 and now. What’s the biggest difference? What we’re seeing now isn’t a bubble; it’s simply a lack of inventory.

2. It’s a seller’s market. In many ways, this may be the friendliest market we’ve seen in quite a while for home sellers. Right now, nearly half of homes are selling within roughly a week or less. At the same time, median prices are rising at a phenomenal rate, and national prices, in general, have increased 17.2 percent over last year.

Why now? Listings are skyrocketing for several reasons. Many experts believe the continued low mortgage rates, a pandemic-era construction slowdown, and an increase in money available for a down payment are all factors.

In this hyper-competitive market, many people are thinking of taking advantage of the situation by listing a property or home. If this sounds like you, give our office a call. We may be able to put you in touch with a housing professional who can offer some guidance and support.

Vision Financial Group 

4505 Pine Tree Circle, Birmingham, AL 35243

205-970-4909

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. Investment Advisory services offered through Investment Advisors, a division of ProEquities, Inc., a Registered Investment Advisor.  Securities offered through ProEquities, Inc., a registered broker-dealer and member of FINRA & SIPC.  Vision Financial Group, Inc. is independent of ProEquities, Inc.

Citations

  1. NAR.realtor.com, March 22, 2021 
  2. Axios.com, April 11, 2021 
  3. Axios.com, April 11, 2021

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