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Is there a housing shortage?
Is there a housing shortage? It seems like houses are for sale, so what does that mean?
Asked By Justin | Jacksonville, FL | 288 views | Market News Trends | 1 year ago
Answer(5)
Chris Yochum
Dickson Realty
Many experts are saying that there is a housing shortage, which means that the inventory is low compared to the population demands. As inventory is low and demand is up then usually prices follow the demand.
- 1 year ago
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Marty & Abby Champagne
RE/MAX Market Place
Yes there is. Want to sell your home?
- 1 year ago
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Lynne Pruell
Realty 100 LLC
The number of homes available is much lower than previous years. Several reason for the current shortage:
-Rising interest rates has paused homeowners from selling or moving up.
- Building restrictions on new home constructions has made it challenging limiting the supply of new homes. High cost of building materials and home prices has paused the rush for new homes.
-The supply chain for building materials, which has led to delays in new construction and renovations
Home prices have been rising rapidly in many areas, making it more difficult for some people to afford a home
- 1 year ago
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Joanne Patience
Iron Valley Real Estate North Florida
Justin - a housing shortage means there are more buyers than homes for sale, so there are not enough homes for every buyer looking to purchase. Here in Fernandina Beach, Nassau County, Florida, we see low inventory, and sellers may still receive multiple home offers.
- 1 year ago
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Janet Stanek
Lake Homes Realty
Of course it depends on the area in which you are looking, but overall, yes, there is an inventory shortage. At the same time, current interest rates are not helping to move properties as quickly as some might expect.
- 1 year ago
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