The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is beginning with the lowest available housing inventory in two years. The report explains: “Last month saw
Housing Inventory Vanishing: What Is the Impact on You?
Economic experts overwhelmingly agree that before the United States financial crisis finally comes to an end, declining housing values must be halted so that real estate will once again provide adequate security for lenders to make loans comfortably. The prospect of imminent declines in housing prices has continuously inhibited banks from making loans as the
The major cross-government package of new measures to meet current challenges in the housing market has received a mixed reception from the property industry. Communities Secretary Hazel Blears said the 1 billion pound package is to help first time buyers struggling to get onto the housing ladder, support vulnerable homeowners at risk of repossession, and
What does housing inventory mean? Inventory is calculated according to a month’s supply, or the number of months it would take to sell the housing inventory based on the current sales rate. So, this means that if there are 100 homes on the market and 10 sell per month on average, then 100 homes=10 months