Love Inventory Pushes Home Prices Higher According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase. Dr. Frank Nothaft, Chief Economist for CoreLogic, gave insight into the reason behind.
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In fact, for-sale housing inventory, especially for starter homes, currently rests at its lowest level in more than ten years, according to the report.
Housing Inventory for 2018. As low inventory is now starting to reverse, the report says they’re expecting a significant amount of increase in home sales for 2018. The numbers are showing that 2018 is leaning towards a positive territory and everyone is definitely hopeful.
Competition for a limited supply of available homes has been fueling price gains across the U.S. The increases will slow as higher values draw more sellers to the market, adding to the inventory..
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And as inventory becomes more scarce, median home prices continue to rise. Starter and trade-up homebuyers need to spend 2.9% and 1.6%, respectively, more of their income than last year to buy a home.
To determine which U.S. cities have appealingly high inventories of. construction in recent years. More than a third of the city’s housing market is newer construction with a median price just.
Heightened competition amid a tight supply of housing inventory in many markets. the “smile” states in the southern U.S. “As prices in the housing sector went up, the pricing gap between new homes.
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Existing Home Inventory Hits Record Low. The December 2016 sales were 1.5 percent higher than those in December 2015, a 4.81 million pace. existing condominium and co-op sales dropped 10.3 percent to a seasonally adjusted annual rate of 610,000 units, and are now 4.7 percent below the previous year.
As the housing market heats up and prices rise once again, existing home sales remain stuck at relatively low levels. The National Association of Realtors reports that some 4.5 million homes were sold in June 2013 at a seasonally adjusted annualized rate, roughly the same as at the end of the 1990s.