HOUSINGNEWS REPORT
MY TAKE
MY TAKE
HOUSING SUPPLY IS AN ISSUE THAT WILL NOT IMPROVE ANY TIME SOON AND HERE’S WHY
BY MATTHEW GARDNER CHIEF ECONOMIST, WINDERMERE REAL ESTATE
There are two common concerns about the housing market that one hears from both consumers and real estate professionals alike. First, they question whether or not we are on the brink of another housing bubble, and second, they want to know why there aren’t more homes for sale.
According to the National Association of REALTORS®, there were 1.96 million U.S. homes for sale in May 2017. When adjusted for seasonality, this falls to just below 1.9 million which is essentially the same level we saw back in 2000.
I don’t plan on addressing the concern regarding a housing bubble in this article except to say that we are not currently in “bubble” territory, although affordability does concern me immensely. Today I would like to concentrate on the second question about the lack of homes for sale.
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JULY 2017 | ATTOM DATA SOLUTIONS
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