Just a few short years ago we had excess an excess housing inventory. Now we actually have a housing shortage with the lowest inventory in 10 years! So what happened????
- The average homeowner used to move every 5 years. That has changed to 9.
- New housing starts have not met the demand.
- Population increasing through immigration, and births.
- Employment has been increasing.
- Interest rates have remained low.
- Creation of new households (20 somethings finally moving out of Mom and Dad’s house
- Increased CU enrollment
All of these factors have contributed to a low inventory of homes to either rent or buy! Now is a great time to be a seller!