The housing market is really heating up and buyer demand is dramatically increasing as we enter the spring season. However, one challenge to the current market is a major shortage of inventory. Below are a few comments made in the last month by industry experts.
“Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what's being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau."
"Low inventories and tight credit will limit the gains we will see in 2016. However, given the level of pent-up demand evident in web activity and stated buyer intentions for 2016, we should see this spring materialize as the busiest season of sales since 2006."
“Inventory is too low to support much higher sales. There's virtually no inventory available at the entry level, and single family housing starts and permits continue to languish at levels far below where they should be at this point of the recovery.”
David Crowe, Chief Economist of the National Assoc. of Home Builders
“Many sellers may not have an absolute decision as to whether to buy an existing home or a new home. So the low inventory of existing homes is locking them in place.”
We are very excited to present SPACE & COMPANY, a boutique real estate brokerage dedicated to re-thinking real estate in Center City , Philadelphia. Our business model, characterized by a commitment to our local community, green living and technology, provides a unique perspective for our clients and agents. Educating our agents on quickly changing market trends and supporting their use of the latest technological tools is a priority.
At SPACE & COMPANY we continue to embrace our forward thinking, results-oriented marketing. Things have changed drastically for the real estate industry in the past few years. Given this, we are not content to provide the status quo – we will continue to strive to be a step ahead, offering creative solutions that speak for themselves.