The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue(emphases added):
“The underlying fundamental issue is anoverwhelming lack of supply… The supply of newly constructed homes is also sagging, adding to the supplychallenges. Over the last eight years, housing demand has increased by 5.9 million, but the net new number of housing units has only increased by 3.5 million.”
“House prices today are higher than they were at the peak in the summer of 2006, near-record-low mortgage rates have boosted housing demand, and sales volume is robust.The spoiler is the lean inventory of houses for sale.”
About Kriste Simmons & The Simmons Team of Reliant Realty ERA Powered -931-245-8800
Thank you for choosing The Simmons Team for your real estate needs! We make it our mission to provide you with top of the line services in any type of situation. We specialize in the Clarksville, Montgomery County, Fort Campbell and Hopkinsville areas, but will gladly help you with surrounding areas as well. Our local expertise and wide variety of Real Estate knowledge will benefit you whether you are buying or selling for the first or the tenth time.
First Time Home Buyers, For Buyers, For Sellers, Housing Market Update
"Kristen helped my husband and I purchase a home in Tennessee. She really listened to our needs and guided us to narrow down the possibilities. Just when we thought we had seen every house, she sent us a new listing. She was constantly adjusting her search to find us exactly what we were looking for. She really gave us the special treatment."