Skip to main content

Posts

Showing posts from October, 2017

47% of Existing Homeowners are worked that they will not be able to find a HOME

There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has beendefined as an “overwhelming lack of supply,”and even a “straight up inventory crisis.” First American just released the results of asurvey which sheds light on the reasons for the current lack of supply. The survey asked title agents and real estate professionals to identify what they believe are the top reasons for this lack of inventory in their markets. Here are the results of the survey: 47% – existing homeowners are worried that they will not be able to find a home to buy26.5% – first-time buyer demand is absorbing a large share of available homes11.3% – existing homeowners’ mortgage rates are lower than the current rates10.6% – insufficient or negative equity in the home4.6% – foreign buyer demand is absorbing a large share of available homes As the survey revealed, there is a shortage of current homeowners willing to put their homes on t