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

Other contributing factors include low unemployment rates, favorable demographics and a tight supply of existing home inventory. In addition, new housing starts. 50 indicates that more builders.

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.

The housing shortage that fueled competition and resulted in sky-high price gains throughout 2017 and the first half of 2018 is on the horizon yet again. Supply is soon expected to drop and potentially hit a new record low, according to realtor.com, after increasing in the second half of last year.

Commercial Mortgage Lenders & Brokers – South Florida Business Journal A commercial mortgage is a loan secured on a commercial or business property, which is not the applicants main residence. As a commercial mortgage broker, we work with our clients to position their requirements in the best way possible before approaching our panel of commercial lenders.

The perfect storm – lack of inventory and skyrocketing prices – has arrived and continues unabated. During the current legislative session, California lawmakers have sent Governor Jerry Brown a series of bills that raises money in a variety of ways for affordable housing projects, to provide tax breaks to renters and potential home buyers.

The housing inventory declined by 1.5 percent over the past year, contributing to the low vacancy rate while also driving up prices and limiting home sales. More than half of the housing stock in the Springfield HMA was built before 1940, and more than 70 percent was built before 1960, when the area’s population reached its peak.

The S&P 500 climbed 1%, surpassing January’s prior record-high. housing markets led the rally this week following strong results. of more than 9% and MDC (MDC) and KB Homes (KBH) each rising more.

No. 4: More new homes will help. Construction of new homes also boosts for-sale inventory. housing starts rose to a five-year high in 2013, providing fresh evidence of the housing recovery’s persistence, according to David Crowe, chief economist of the National Association of Home Builders, a trade group in Washington, D.C.

Public housing was established to provide decent and safe rental housing for eligible low-income families, the elderly, and persons with disabilities. Public housing comes in all sizes and types, from scattered single family houses to high rise apartments for elderly families.

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 · Housing is a huge chunk of the U.S. economy. Look to Kiplinger’s Economic Outlooks for forecasts on existing home sales, new home sales and housing starts.