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Tag Archives: Housing Inventory

Affordability Surpasses Inventory as Top Housing Industry Concern

NAR polled more than 176,000 executives and senior management officials at real estate firms and found that housing affordability has left fewer buyers able to purchase a home due to the rise in prices and interest rates, as many potential sellers remain in place rather than choosing to sell.

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Scarce Housing Inventory Ignites Bidding Wars

“The lack of supply is making it feel almost like 2021 all over again, but higher rates mean bidding wars are happening more in the $500,000 range than the $700,000 range because people can afford less,” said Redfin Agent Jeremy Lucas.

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Home Price Growth Surges as Homebuyers Outnumber Sellers

While elevated mortgage rates continue to deter many home sellers from listing, an increase in homebuying competition is fueling a rise in home prices. According to a new market report from Zillow, typical U.S. home values grew by 1.4% from April to May, marking the strongest monthly appreciation since June 2022.

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