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A Lack of Inventory Continues to Impact the Housing Market

A Lack of Inventory Continues to Impact the Housing Market | Simplifying The Market

The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up and distressed sales (foreclosures and short sales) have fallen to their lowest point in years. The market will continue to strengthen in 2019.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory! Buyer demand naturally increases during the summer months, but supply has not kept up.

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

Lawrence Yun, Chief Economist at National Association of Realtors

“Further increases in inventory are highly desirable to keep home prices in check, the sustained steady gains in home sales can occur when home price appreciation grows at roughly the same pace as wage growth.”

Jessica Lautz, Vice President of NAR

“There’s a supply-demand mismatch… More inventory is needed at the lower end and a price reduction may be needed at the upper end.”

Danielle Hale, Chief Economist of Realtor.com

“Heading into spring, U.S. prices are expected to continue to rise and inventory is expected to continue to increase, but at a slower pace than we’ve seen the last few months as fewer sellers want to contend with this year’s more challenging conditions… A buyer’s experience will vary notably depending on the market and price point they’re targeting.”

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!

Content previously posted on Keeping Current Matters

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Joseph Garcia

https://www.dfweliteliving.com

Joseph Garcia is a proud native Texan, born in Lubbock, raised in San Antonio and loving Dallas. Everyday Joseph uses his more than 16 years experience in the Real Estate industry to help better serve his clients. Joseph started his career in Property Management, Apartment Locating, and Leasing, then quickly transitioned into becoming a full-time residential agent in 2007. Today, Joseph continues to focus on Residential sales and with his broad knowledge base can even assist his clients with Commercial deals.

Joseph is dedicated to helping individuals and families find their dream home and more importantly, the lifestyle they desire! What clients love about Joseph the most is his passion for life and​ ​outgoing personality. When it comes to marketing and selling homes "JoJo Sells" uses the power of Social Media to move homes quickly.

​Joseph also prides himself in making sure each deal gets to the closing table​ no matter how difficult the deal is​. He also goes above and beyond to ensure his clients find the perfect home match whether it's personal or investment. Joseph's extensive network of Real Estate professionals in Sales, Leasing, Lending, Home Inspection, Home Repair and Title make every transaction as seamless as possible.

Joseph carries the distinguished Certified Luxury Home Marketing Specialist (CLHMS) Designation from the Institute for Luxury Home Marketing and a Global Elite Certification which provides access to a Global Real Estate Network.

Joseph completed the Metrotex Leadership Academy class of 24 and immediately after served as a ROC to mentor the Medical / Sports day of class 25. In 2015 he partnered with 5 other individuals to create and serve as the Marketing Chair for the Non-Profit Gay And Lesbian Organization of Real Estate (GALORE) to address unique Real Estate issues facing the Gay and Lesbian community. Joseph is also a member of the National Association of Hispanic Real Estate Professionals (NAHREP), as well as Young Professionals Network (YPN) & Metrotex Leadership Alumni.

He currently services as the Sales Director in the VIVO Uptown office and every day shares his vast Real Estate experience by coaching and mentoring new agents. When you're working with Joseph, you're working with not only a fun agent, but one of the best!

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